Mizuho analyst Nitin Kumar downgraded APA Corp. to Underperform from Buy with a price target of $48, down from $52, after assuming coverage of the name. The bullish investment case rests on further Suriname exploration success and development, but visibility on a first project remains limited, Kumar tells investors in a research note Meanwhile, the analyst does not view APA’s U.S. onshore assets as competing against broader peers on wither inventory scale or asset quality.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on APA:
- Apache call volume above normal and directionally bullish
- Early notable gainers among liquid option names on December 23rd
- APA Corporation Declares Cash Dividend on Common Shares
- Early notable gainers among liquid option names on December 12th
- APA Corp. price target raised to $55 from $46 at Barclays