Raymond James Price Target Adjustments pre Q3 results
Posted: Tue Oct 24, 2023 9:36 am
10/24/2023: Raymond James upgrades AR, CTRA, RRC; downgrades BSM, DVN, HES, and PXD
Upgrades: Tells me that RJ is becoming more bullish on natural gas prices
Antero Resources (AR) upgraded to strong buy from market perform; target is $37
Coterra Energy (CTRA) upgraded to outperform from market perform; target is $34
Range Resources Corp. (RRC) upgraded to outperform from market perform; target is $41
Downgrades:
Devon Energy (DVN) downgraded to outperform from strong buy; target increased however to $63 from $61
Black Stone Minerals (BSM) downgraded to market perform from outperform
Hess Corporation (HES) downgraded to market perform from outperform < Merging into Chevron
Pioneer Natural Resources (PXD) downgraded to market perform from strong buy < Merging into Exxon
Analyst is John Freeman
Upgrades: Tells me that RJ is becoming more bullish on natural gas prices
Antero Resources (AR) upgraded to strong buy from market perform; target is $37
Coterra Energy (CTRA) upgraded to outperform from market perform; target is $34
Range Resources Corp. (RRC) upgraded to outperform from market perform; target is $41
Downgrades:
Devon Energy (DVN) downgraded to outperform from strong buy; target increased however to $63 from $61
Black Stone Minerals (BSM) downgraded to market perform from outperform
Hess Corporation (HES) downgraded to market perform from outperform < Merging into Chevron
Pioneer Natural Resources (PXD) downgraded to market perform from strong buy < Merging into Exxon
Analyst is John Freeman