Scotiabank has revised its price target for Range Resources (RRC, Financial), decreasing it to $40 from the previous target of $45. Despite this adjustment, the firm continues to maintain a "Sector Perform" rating on the stock. This change comes as part of a broader update of forecasts for stocks within the North American Natural Gas sector.
The revision follows recent developments, including tariff announcements, in the energy market. Nonetheless, Scotiabank remains optimistic about the prospects for the natural gas sector and suggests that the market is entering a bullish phase. Investors are advised to consider these dynamics while monitoring Range Resources' performance and market positioning.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for Range Resources Corp (RRC, Financial) is $42.06 with a high estimate of $55.00 and a low estimate of $22.55. The average target implies an upside of 30.06% from the current price of $32.34. More detailed estimate data can be found on the Range Resources Corp (RRC) Forecast page.
Based on the consensus recommendation from 27 brokerage firms, Range Resources Corp's (RRC, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Range Resources Corp (RRC, Financial) in one year is $27.79, suggesting a downside of 14.07% from the current price of $32.34. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Range Resources Corp (RRC) Summary page.
