Jefferies downgraded ARC Resources (AETUF) to Hold from Buy with a price target of C$33, up from C$30, after the company’s agreement to be acquired by Shell (SHEL). The firm thinks closing should be relatively quick and smooth based on recent Canadian upstream transactions, the analyst tells investors.
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Read More on AETUF:
- ARC Resources downgraded to Equalweight from Overweight at Capital One
- ARC Resources downgraded to Hold from Buy at Canaccord
- ARC Resources downgraded to Market Perform from Outperform at BMO Capital
- Ollenberger Maintains Hold on ARC Resources Amid Shell Takeover, Raises Price Target to $32 on Limited Upside Potential
- Shell (SHEL) Boosts ARC Resources Stock (ARX) with a $13.6B Deal