APA Corp. price target lowered to $32 from $34 at RBC Capital

RBC Capital analyst Scott Hanold lowered the firm’s price target on APA Corp. (APA) to $32 from $34 and keeps a Sector Perform rating on the shares after its Q3 results. Shares are weighed down by North Sea abandonment, though North Sea was a zero-sum asset and the decision to shut it down – while not a good look and comes with heavy reclamation – was inevitable and somewhat inconsequential to value, the analyst tells investors in a research note. RBC adds that APA’s overall 2025 plan is capital light, which helps to reduce balance sheet leverage.