APA Corp. price target lowered to $24 from $27 at RBC Capital

RBC Capital lowered the firm’s price target on APA Corp. (APA) to $24 from $27 and keeps a Sector Perform rating on the shares. The recent market volatility and lower oil prices could result in further activity reductions, if sub-$60/barrel oil price persists, though the management’s recent streamlining is underway with significant G&A reduction in place, the analyst tells investors in a research note.