Antero Resources Corporation (NYSE: AR) is now listed among the stocks under $50 to buy, with BofA cutting its price target to $39 from $47. The market optimism for natural gas has been persistent, but BofA warns of possible oversupply in the coming year, leading to a 12% reduction in price projections for gas-levered E&P group.

Benchmark reiterated a ‘Hold’ rating on Antero Resources Corporation (NYSE: AR) after the company’s debt issuance for the $2.8 billion acquisition of HG Energy II. The company issued $750 million of 5.4% notes and sold $800 million of Ohio Utica assets to partially fund the purchase, with the rest to be paid through a $1.5 billion term loan.

Antero Resources Corporation (NYSE: AR) will fully repay the term loan by the end of 2027, as Benchmark sees a clear path to debt reduction post-acquisition. The Colorado-based company provides natural gas, NGLs, and oil properties through its Exploration and Production, Marketing, and Equity Method Investment in Antero Midstream segments.

Read more at Yahoo Finance: BofA Stays Bullish on Antero Resources Corporation (AR), but Lowers Expectations