Analyst Subash Chandra of Benchmark Co. maintained a Buy rating on APA, retaining the price target of $33.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Subash Chandra has given his Buy rating due to a combination of factors including the potential merger between APA Corp. and Repsol, which could create a significant entity with a diverse production portfolio across several continents. This merger would position APA as a key player in the international market, aligning well with Repsol’s strategic plans to expand its upstream operations in the U.S. by 2026.
Additionally, the merger would result in a balanced production mix, with a 50/50 split between natural gas and other resources, enhancing APA’s market position. The potential for increased profitability and the strategic alignment of assets in regions like the Permian and Egypt further support the Buy rating, as these factors are likely to drive future growth and value for APA shareholders.
In another report released on November 12, Susquehanna also maintained a Buy rating on the stock with a $32.00 price target.
APA’s price has also changed moderately for the past six months – from $18.460 to $24.690, which is a 33.75% increase.