Antero Resources price target lowered to $30 from $33 at Truist

Truist analyst Neal Dingmann lowered the firm’s price target on Antero Resources to $30 from $33 but keeps a Buy rating on the shares. The analyst cites the company’s lower Q1 earnings and free cash flows than estimated due to lower than expected NGL prices and higher than anticipated quarterly capital spending. Truist adds however that while the ethane market is currently saturated, as incremental demand comes online later this year, it expects the Northeast to be the primary benefactor of a tighter ethane market as the in-basin cracker ramps up and international demand reduces domestic supply.