Range Resources price target raised to $34 from $32 at Jefferies

Jefferies analyst Lloyd Byrne raised the firm’s price target on Range Resources to $34 from $32 and keeps a Hold rating on the shares. Range’s liquids positioning and hedging profile should allow the company to generate higher free cash flow in 2024 despite lower natural gas prices, says the firm, which updated its model and raised estimates as it increased NGLs realization/liquids mix and sees 2024 costs slightly below the mid-point of guidance.