UBS raised the firm’s price target on APA Corp. (APA) to $26 from $25 and keeps a Neutral rating on the shares. APA had one of the strongest Q3 updates within the firm’s coverage, with an earnings beat on strong operational performance, while acceleration in its cost-out program further improves the forward outlook, the analyst tells investors in a research note. The firm thinks continued operational execution will likely be needed before a re-rating towards the peer group can occur.
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