UBS on Monday reiterated its buy rating on the shares of ARC Resources (ARX.TO) while raising its price target to C$37.00 from C$35.00 following fourth-quarter results from the Western Canadian oil and gas producer.
"ARX reported positive 4Q24 update with CFPS/ production/ capex all beating UBS estimates. The ops update was also positive, with Kakwa continuing to see improving well performance. ARX reiterated its 2025 production and capex guide, but raised the FCF outlook by 20% driven by the improving realizations, FX tailwind, and the Attachie contribution. We increase PT from C$35 to C$37 and reiterate Buy," 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: 26.59, Change: +0.69, Percent Change: +2.66
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