Market Overview

UPDATE: JP Morgan Raises PT on Range Resources on Above Average Production Growth

Share:
Related RRC
'Light At The End Of The Decade' For Natural Gas
Goldman's Top 7 U.S. Shale Oil Buyout Targets
Range Resources - Q2 Earnings Preview (Seeking Alpha)

In a report published Tuesday, JP Morgan reiterated Range resources Corp. (NYSE: RRC) at overweight and raises price target from $79.50 to $86.50.

JP Morgan reported that, “We think the company's above-average production growth and high rate of return assets could help it outperform its peers. Good well results from its relatively new super-rich Marcellus and horizontal Mississippian plays could provide near-term catalysts. Longer-term we think Range's liquids-rich Marcellus returns will benefit from ethane extraction. On a NYMEX NAV basis, Range is trading relatively in line with the group but at a discount to the high-growth peers. We reiterate our Overweight rating. “

Range Resources Corp's shares closed at $77.25 on Monday.

Latest Ratings for RRC

DateFirmActionFromTo
Jul 2015KLR GroupUpgradesAccumulateBuy
Jul 2015Deutsche BankMaintainsHold
Jul 2015BarclaysMaintainsOverweight

View More Analyst Ratings for RRC
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (RRC)

Get Benzinga's Newsletters