MUFG analyst Michael McAllister upgraded Apache to Overweight from Neutral while lowering his price target for the shares to $46 from $56. The recent selloff makes the shares attractive, McAllister tells investors in a research note. The analyst sees 28% upside in the stock following the 27.5% pullback in the past 30 days.

Piper Sandler raised the firm's price target on APA Corp. to $35 from $33 and keeps a Neutral rating on the shares as part of a Q1 preview for the exploration and production group. Energy has been hot, almost too hot, as $90 crude potentially cools the pace of consolidation and investors looking for ways to play the data center and power demand theme turn to gas equities, the analyst tells investors in a research note. The firm adjusted oil and gas price assumptions, expecting crude pricing to remain strong through Q3 and gas pricing pressure to persist through the balance of fiscal 2024.