Raymond James analyst John Freeman lowered the firm’s price target on APA Corp. to $49 from $61 and keeps a Strong Buy rating on the shares. The price target decrease reflects the meaningfully lower commodity strip, the analyst tells investors in a research note. Moving into FY23, APA’s focus remains fixed on oil growth, both domestically and abroad, the firm notes, adding that upcoming appraisal wells in Suriname remain the biggest potential near-term catalyst.
Published first on TheFly
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