Susquehanna lowered the firm’s price target on Range Resources (RRC) to $36 from $40 and keeps a Neutral rating on the shares. The firm lowered its 2025 oil price assumption to around $68/bbl and 2026/long-term assumption to $67/bbl. Tariffs have lowered global demand estimates and pushed down oil prices to begin 2Q as recession fears climb. OPEC+ is also beginning to unwind its 2.2MM barrels of voluntary production cuts beginning in April, adding significant supply back into the market.
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Read More on RRC:
- Range Resources price target lowered to $32 from $33 at Piper Sandler
- Range Resources price target lowered to $43 from $55 at Raymond James
- Range Resources (RRC) Q1 Earnings Cheat Sheet
- Range Resources price target lowered to $41 from $49 at Morgan Stanley
- Range Resources price target lowered to $40 from $45 at Scotiabank
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