Wells Fargo raised the firm’s price target on Antero Resources (AR) to $49 from $39 and keeps an Overweight rating on the shares. The firm updated its model following the acquisition of Hope Gas and the Utica sale. The all-cash deal brings financial and strategic benefits, including operating synergies in contiguous West Virginia acreage. The WV datacenter opportunity is enhanced by the acquisition, and LOE averages down with lower GP&T on the new volume, Wells adds.
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