Range Resources price target raised to $39 from $32 at Benchmark

Benchmark analyst Subash Chandra raised the firm’s price target on Range Resources to $39 from $32 and keeps a Buy rating on the shares. The firm is reducing its Q2 EPS and EBITDA estimates on a mark-to-market of commodity prices, but says “it could’ve been much worse” as a widening of basis differentials will be partially offset by hedge gains and reduced GP&T costs.