APA Corp. price target raised to $39 from $38 at Truist

Truist analyst Gabe Daoud raised the firm’s price target on APA Corp. (APA) to $39 from $38 and keeps a Hold rating on the shares as part of a broader research note previewing Q1 results in Exploration and Production names. The company’s gas trading portfolio benefited from a wide Waha / HSC spread and elevated LNG prices given the Iran conflict, the analyst tells investors in a research note. APA also continues to execute against its cost reduction initiative set in 2024, with the company exceeding its $350M target and line of sight to $450M, the firm added.