Mizuho raised the firm’s price target on APA Corp. to $49 from $47 and keeps an Underperform rating on the shares. The analyst updated oil and gas estimates to reflect the commodity price rebound in Q3. A resurgent commodity price complex – particularly oil and refining cracks – have driven a share rebound as investors focus on OPEC+ cuts, undersupply in global oil markets, and product inventory tightness, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on APA:
- APA Corp. management to meet with Truist
- APA Corporation and TotalEnergies Announce Oil Project of 200,000 b/d in Block 58 and Launch Development Studies with the Objective of Sanctioning the Project by Year-end 2024
- APA Corp., TotalEnergies announce oil project in Block 58
- APA Corporation Declares Cash Dividend on Common Shares
- Early notable gainers among liquid option names on September 12th