Range Resources price target lowered to $43 from $46 at Truist
Truist lowered the firm's price target on Range Resources to $43 from $46 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 earnings for Natural Gas Exploration & Production names. The firm sees gas storage exiting October FY26 at 4% above 5-year norms, warning however that FY28 could get interesting with storage levels as low as 3.2 Tcf entering winter FY28/FY29, potentially creating a bullish price signal in FY27 against current strip that is now less than $3.50/M Btu, the analyst tells investors in a research note.
Truist lowered the firm's price target on Range Resources to $43 from $46 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 earnings for Natural Gas Exploration & Production names.
The firm sees gas storage exiting October FY26 at 4% above 5-year norms, warning however that FY28 could get interesting with storage levels as low as 3.2 Tcf entering winter FY28/FY29, potentially creating a bullish price signal in FY27 against current strip that is now less than $3.50/M Btu, the analyst tells investors in a research note.