Antero Resources Analyst Slashes Rating On The E&P Firm, Citing 'Depressed' Investor Sentiment
Portfolio Pulse from Lekha Gupta
Truist Securities analyst Bertrand Donnes downgraded Antero Resources Corp (AR) to Hold from Buy, reducing the price target from $37.00 to $28.00. Donnes anticipates depressed investor sentiment and potential reductions in Street estimates/price targets for AR in the coming months. Despite AR's quality inventory, the lack of commodity recovery may limit upside potential. The analyst also lowered EBITDAX estimates for 2023 and 2024, reflecting a reduced NGL/gas differential outlook and predicting higher FCF Y/Y but expecting near-term downward revisions. AR shares dropped by 3.5% to $23.05.

December 04, 2023 | 7:17 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Antero Resources Corp downgraded to Hold by Truist Securities with a price target cut from $37.00 to $28.00, amid expectations of depressed investor sentiment and potential Street estimate reductions.
The downgrade by Truist Securities and the reduction in price target are likely to negatively impact investor sentiment towards AR in the short term. The analyst's expectation of a depressed sentiment and potential reductions in Street estimates/price targets could lead to a decrease in the stock price. The recent 3.5% drop in AR shares following the announcement further supports the likelihood of a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100