Mizuho cuts Range Resources stock price target on lower gas outlook

Mizuho lowered its price target on Range Resources (NYSE:RRC) stock to $52 from $55, maintaining an Outperform rating. The firm expects the company to report third-quarter results in line with Street estimates, with stronger free cash flow generation supported by lower capital spending. Mizuho identifies a potential upside from additional power supply agreements, with management signaling new commercial announcements could materialize over the next six months.

The price target reduction reflects Mizuho's reduced 12-month natural gas price outlook, as the firm anticipates a relatively weak start to 2027 for natural gas fundamentals.

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