Antero Resources initiated with an Overweight at Wells Fargo

Wells Fargo analyst Roger Read initiated coverage of Antero Resources with an Overweight rating and $34 price target. U.S. gas oversupply risks this year are posing short-term headwinds to the positive outlook for the company, though Antero benefits from its integrated midstream operations, the analyst tells investors in a research note. Wells Fargo further notes that Antero Resources should generate low-single-digit growth from a modest capex level in 2023.