Wells Fargo analyst Roger Read upgraded Range Resources to Overweight from Equal Weight with a price target of $31, up from $30. Wells Fargo expects the company to relatively outperform gas peers in a weak gas price environment, and says Range Resources stands out among gas peers on 2023 capital efficiency, thanks to its low corporate base decline rate and prudent hedging strategy, the analyst tells investors in a research note.
Published first on TheFly
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Read More on RRC:
- Range Resources upgraded to Overweight from Equal Weight at Wells Fargo
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