Citigroup Downgrades APA to Neutral, Lowers Price Target to $37
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Scott Gruber has downgraded APA Corporation (NASDAQ:APA) from Buy to Neutral and reduced the price target from $52 to $37.

November 22, 2023 | 11:52 am
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APA Corporation was downgraded by Citigroup from Buy to Neutral, with a price target cut from $52 to $37.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less favorable outlook. The reduction in the price target further implies a lower expected future stock price, which can also negatively affect investor sentiment.
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