Raymond James raised the firm’s price target on APA Corp. to $53 from $49 and keeps a Strong Buy rating on the shares. APA’s supplementary release screened positive, and while natural gas and NGL prices fell slightly below the firm’s original forecast, the revenue shortfall was offset by roughly $40M in realized hedging gains and net gains on oil and gas purchases/sales, the analyst tells investors in a research note.
Published first on TheFly
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