Benchmark analyst Subash Chandra reiterated a Buy rating on Antero Resources Corporation (AR), but lowered the price target to $32 from $36. The company's Q2 earnings release is due on July 26, 2023. The analyst lowered the realized gas and NGL price expectations to $2.15/$24 from $2.60/$28 and expects AR to outspend $190 million this quarter. However, the analyst expects natural gas prices to trend higher into the heating season and a rebound in product prices could coincide with a seasonal decline in capex.