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In a report published Friday, Jefferies analyst Subash Chandra initiated coverage on
Antero Resources Corp.AR with a Buy rating and $75.00 price target.
In the report, Jefferies noted, “AR provides investors with a pure-play Appalachian operator with a vast inventory of unbooked resource and consistent long-term production and reserve growth. The acreage is contiguous, which allows for longer laterals, efficiency gains, bolt-on acreage purchases at discounted pricing, and economies of scale. Despite the run-up in the stock, valuation remains compelling. We initiate with a BUY rating and a $75 price target.”
Antero Resources Corp. closed on Thursday at $54.00.
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