Antero Resources (AR) Upgrade - July 5
Posted: Tue Jul 05, 2022 1:44 pm
Antero Resources Corporation (AR, $30.74, Buy) - Upgrade to BUY,
Recent Deep Decline Provides Opportune Entry Point as Gas/NGLs Likely to Stay Strong
Recent Selloff Creates Opportunity For NGL Upside Trade
We are upgrading Antero to Buy from Hold after the stock has
underperformed our coverage group by ~10% and other gas
E&Ps by ~5% over the past month as natural gas fell from its
multiple-year high. We believe AR’s set up is one of the best
ways to play the potential post-COVID NGL/natural gas domestic
and international recovery. There appears to us to be several
drivers to materially higher natural gas and NGLs such as limited
public E&P natural gas growth and notable future international
NGL demand. - Neal Dingmann at Truist Financial
Recent Deep Decline Provides Opportune Entry Point as Gas/NGLs Likely to Stay Strong
Recent Selloff Creates Opportunity For NGL Upside Trade
We are upgrading Antero to Buy from Hold after the stock has
underperformed our coverage group by ~10% and other gas
E&Ps by ~5% over the past month as natural gas fell from its
multiple-year high. We believe AR’s set up is one of the best
ways to play the potential post-COVID NGL/natural gas domestic
and international recovery. There appears to us to be several
drivers to materially higher natural gas and NGLs such as limited
public E&P natural gas growth and notable future international
NGL demand. - Neal Dingmann at Truist Financial