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UPDATE: Morgan Stanley Reiterates on Range Resources Following Positive Guidance

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In a report published Wednesday, Morgan Stanley analyst Drew Venker reiterated an Equal-Weight rating on Range Resources (NYSE: RRC), and raised the price target from $90.00 to $98.00.

In the report, Morgan Stanley noted, “Receives fair credit for deep resource potential and sustainable 20-25% annual growth for several years. Range's premium multiple is justified given its track record of superior exploration success, its conservative guidance, and strong management team. HBP drilling is likely to continue for 3-5 years, which will slow the pace of growth.”

Range Resources closed on Tuesday at $86.90.

Latest Ratings for RRC

DateFirmActionFromTo
Jan 2021Morgan StanleyMaintainsEqual-Weight
Jan 2021B of A SecuritiesDowngradesBuyNeutral
Dec 2020Morgan StanleyUpgradesUnderweightEqual-Weight

View More Analyst Ratings for RRC
View the Latest Analyst Ratings

 

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