APA Corp. price target raised to $50 from $47 at RBC Capital

RBC Capital analyst Scott Hanold raised the firm’s price target on APA Corp. to $50 from $47 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The analyst states the progress being made on several fronts with encouraging signs at the Suriname project and strong oil growth outlooks in both the U.S. and Egypt. The firm’s higher price target reflects its stronger near-term free cash flow forecast plus a de-risking of Suriname value potential, RBC added.