Range Resources price target lowered to $45 from $46 at Scotiabank

Scotiabank lowered the firm’s price target on Range Resources (RRC) to $45 from $46 and keeps a Sector Perform rating on the shares. The firm is updating its price targets for North American Natural Gas stocks under its coverage, the analyst tells investors. Scotiabank’s forecasts continue to show supply deficits in U.S. and Western Canada, leading the firm to believe natural gas commodity and equity prices will increase over the next year.