JPMorgan upgraded Range Resources (RRC) to Neutral from Underweight with a price target of $45, up from $43. The firm cites valuation for the upgrade, saying the stock is now trading at in-line multiples to the peer group on its 2025-2026 estimates. Range’s decision to” lean into a modicum of growth” in 2026-2027 by leveraging its long duration inventory, balance sheet, and recent addition of long-haul gas and natural gas liquids transport is “prudent and should drive value creation in a strong macro setting for U.S. gas,” the analyst tells investors in a research note.
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