APA Corp. price target lowered to $33 from $36 at Truist

Truist lowered the firm’s price target on APA Corp. (APA) to $33 from $36 and keeps a Buy rating on the shares after its inline Q3 results. The company has had its fair share of operational challenges in recent quarters that has caused some investors to lose faith, though its diversified asset base has attractive potential value, assuming APA can demonstrate its eight-rig Permian and twelve-rig Egypt programs can sustain adjusted production in the regions, the analyst tells investors in a research note.