Morgan Stanley resumed coverage of APA Corp. with an Underweight rating and $28 price target now that APA has closed its acquisition of Callon Petroleum. Shares trade above the firm’s estimate of net asset value and the firm expects “a series of noisy operational quarters” as APA implements development changes to improve Callon’s performance, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APA:
- Ex-Dividend Date Nearing for These 10 Stocks – Week of April 15, 2024
- APA Corp. price target raised to $40 from $38 at JPMorgan
- APA Corporation Announces Executive Leadership Restructuring
- APA Corp. reports preliminary Q1 U.S. oil price $77.00 per barrel
- APA Corporation Provides First-Quarter 2024 Supplemental Information and Schedules Results Conference Call for May 2 at 10 a.m. Central Time