RBC Capital lowered the firm’s price target on APA Corp. to $47 from $50 to reflect lower commodity price forecasts and keeps a Sector Perform rating on the shares. The market may need to wait on significant updates at Suriname, the analyst tells investors in a research note, adding that APA Corp. should also provide a visible ramp in oil production in both Egypt and the Permian, on which investors are a bit uncertain on at this point.
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