APA Corp. price target raised to $23 from $22 at Goldman Sachs

Goldman Sachs analyst Umang Choudhary raised the firm’s price target on APA Corp. (APA) to $23 from $22 and keeps a Sell rating on the shares. The firm adjusted its model following the company’s Q4 report, with the management having provided additional color on progress on the optimization of legacy Callon assets, its longer-term cost reduction initiatives, and continued focus on return of capital to shareholders and improving balance sheet strength, the analyst tells investors in a research note.