TD Cowen analyst David Deckelbaum upgraded the rating on Antero Resources (AR – Research Report) to a Buy today, setting a price target of $46.00.
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David Deckelbaum has given his Buy rating due to a combination of factors, including an improved outlook on the gas market following recent tariff announcements. He anticipates that a reduction in oil rigs will lead to decreased associated gas volumes, which, coupled with growing demand, will result in a tighter gas supply by 2026.
Antero Resources is strategically positioned to benefit from potential increases in gas prices, as a significant portion of its production is focused on natural gas and NGLs in the Appalachia region. The company’s guidance for 2025 indicates production volumes that surpass previous estimates, and management has projected price premiums for both natural gas and NGLs. Additionally, Antero’s strong free cash flow yield and its substantial delivery of gas volumes to the LNG corridor along the Gulf Coast further support Deckelbaum’s positive outlook.
In another report released on March 31, Jefferies also maintained a Buy rating on the stock with a $49.00 price target.