RBC Capital analyst Scott Hanold raised the firm’s price target on APA Corp. (APA) to $25 from $24 and keeps a Sector Perform rating on the shares. The firm’s updated model shows stronger free cash flow driven by accelerated and unsized optimization along with a slightly better production outlook, the analyst tells investors in a research note. This is the second consecutive quarter and APA improved cost optimization and posted positive operational performance, and while future enhancements could occur, they would likely be at a slower pace, RBC says.
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