Wells Fargo downgraded Antero Resources to Equal Weight from Overweight with a price target of $25, down from $32. Wells Fargo says Antero’s valuation is more in-line with peers, and it expects below-average free cash flow generation in 2023 due to the company’s largely unhedged production profile, resulting in valuation that is less compelling, the analyst tells investors in a research note.
Published first on TheFly
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