ARC Resources Maintained at Buy at UBS Following Q3 Results; Price Target Raised to C$31.00

MT Newswires Live

Nov 12, 2024

UBS on Monday reiterated its buy rating on the shares of ARC Resources (ARX.TO) while raising its price target to C$31.00 from C$29.00 following third-quarter results from the Western Canadian natural-gas producer.

"ARX reported a positive 3Q24 update, beating on CFPS, condensate/total volume, and capex. Operational performance was also strong, driven by Kakwa and the start up of Attachie. Phase 1 is currently producing ~20mboepd and remains on track to reach the 40mboepd capacity by YE24. These two assets combine to drive a higher condensate volume and lower capex outlook for 2025 vs. prior expectations. We reiterate our Buy rating and increase our PT o C$31 from C$29 on 6%/5% higher 2025E/26E CFPS and Attachie being de-risked," the investment bank noted.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 25.44, Change: +0.58, Percent Change: +2.33

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Research providers may contact us here: https://www.mtnewswires.com/contact-us)</p><p>Price: 25.44, Change: +0.58, Percent Change: +2.33</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ARC","symbol_name":"美国图文公司","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2482734782","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482734782","pubTimestamp":1731341627,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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