Range Resources transferred with an Overweight at Wells Fargo

Wells Fargo took over coverage of Natural Gas E&P stocks, including Range Resources (RRC) with an Overweight rating and $46 price target The analyst believes U.S. gas markets could undergo a structural change over the next decade that lifts the price floor and reduces risk, which it call an outcome that would be “bullish for equities.” U.S. gas demand is growing with LNG exports and datacenter power draw, the analyst added.