Range Resources price target lowered to $40 from $42 at Piper Sandler

Piper Sandler lowered the firm’s price target on Range Resources to $40 from $42 and keeps an Overweight rating on the shares after updating the firm’s E&P estimates post-Q4 results and FY23 outlooks as well as revisiting the firm’s commodity price forecasts. Generally, sentiment for the group has "taken a turn for the better," with broadly less capital efficient guidance out of the way, the analyst tells investors.