RBC Capital Downgrades Range Resources to Sector Perform, Raises Price Target to $39
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Scott Hanold downgraded Range Resources (NYSE:RRC) from Outperform to Sector Perform while raising the price target from $36 to $39.

April 26, 2024 | 9:57 am
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Range Resources was downgraded by RBC Capital from Outperform to Sector Perform, but the price target was increased from $36 to $39.
The downgrade to Sector Perform suggests a neutral outlook on the stock's performance relative to the sector, indicating that the analyst sees limited upside potential from current levels. However, the increase in the price target from $36 to $39 suggests a positive view on the company's valuation, potentially indicating an expectation of steady growth or improved financial health. The mixed nature of this update (a downgrade with a higher price target) could lead to short-term uncertainty among investors, as it signals both caution and optimism.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100