Range Resources price target raised to $40 from $32 at Piper Sandler

Piper Sandler raised the firm’s price target on Range Resources (RRC) to $40 from $32 and keeps a Neutral rating on the shares. Coming out of Q1 2025 earnings, the firm is adjusting its near-term commodity price forecast, maintaining its long-term mid-cycle oil and raising mid-cycle gas to $3.50 from $3.25. In E&P, Piper continues to look for a balance of operational flexibility, deep high-return inventory runways and low reinvestment rates through FY26.