Analyst Kalei Akamine of Bank of America Securities maintained a Buy rating on Range Resources (RRC – Research Report), retaining the price target of $45.00.
Kalei Akamine has given his Buy rating due to a combination of factors that highlight Range Resources’ promising growth outlook and strategic positioning. The company has announced a three-year plan to increase production volumes significantly by 2027, without a major rise in capital expenditure. This growth is supported by front-loaded capital investments and an efficient use of drilled but uncompleted wells, which are expected to enhance production levels.
Additionally, Range Resources has secured substantial gas transportation capacity to expand its market reach beyond the Appalachia Basin, targeting the Midwest and Gulf Coast. The company’s ability to beat consensus estimates for adjusted EBITDA and cash flow further underscores its strong financial performance. With a price objective set at $45.00 USD, compared to the current price of $37.50 USD, the stock presents an attractive investment opportunity, supported by a robust capital strategy and potential for increased market demand.
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