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APA Corp. assumed with Underperform from Buy at Mizuho
The Fly

APA Corp. assumed with Underperform from Buy at Mizuho

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.

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