APA Corp. price target lowered to $20 from $21 at Wells Fargo

Wells Fargo analyst Roger Read lowered the firm’s price target on APA Corp. (APA) to $20 from $21 and keeps an Equal Weight rating on the shares. The firm expects in-line production and a EBITDAX beat for Q2 with focus on progress toward cost-reduction targets, Permian well productivity, Suriname capex/timeline progress, Egypt oil/gas production trajectory, and updates on Alaska exploration.