Antero Resources, the Energy sector company, was revisited by a Wall Street analyst today. Analyst David Deckelbaum from TD Cowen maintained a Buy rating on the stock and has a $46.00 price target.
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David Deckelbaum has given his Buy rating due to a combination of factors including Antero Resources’ strategic acquisitions and operational achievements. The company completed a $260 million acquisition in West Virginia, adding significant production capacity and undeveloped locations at attractive valuations, which enhances its growth potential.
Despite facing challenges with weaker NGL pricing, Antero Resources demonstrated solid execution with production levels aligning with expectations and achieving operational milestones such as drilling the longest lateral in its history. The company’s increased land spending and strategic moves into dry gas areas also indicate a proactive approach to capitalize on future demand opportunities, supporting the positive outlook.
According to TipRanks, Deckelbaum is a 3-star analyst with an average return of 5.2% and a 38.53% success rate. Deckelbaum covers the Energy sector, focusing on stocks such as Diamondback, Antero Resources, and Occidental Petroleum.
In another report released on October 20, Bank of America Securities also maintained a Buy rating on the stock with a $44.00 price target.