Wolfe Research upgraded Antero Resources to Outperform from Peer Perform with a $37 price target. Following a broad sector decline that has seen Antero pull back nearly 16% since mid-July, the firm sees improved risk-reward that now has near-dated gas price risk discounted. Looking forward, the firm sees an advantaged portfolio helped by one of the lowest portfolio break evens in the sector and strong balance enabling unhedged leverage to an improving gas outlook in 2025, the analyst tells investors.
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