APA is trading 4.43% up at $44.24 after Argus upgraded the shares from Hold to Buy and set a $48 price target.
- Argus cited stronger second-quarter performance, including adjusted EPS of $1.89 versus its $1.79 estimate and $1.80 consensus.
- Higher realized crude prices and cost reductions also supported the upgrade.
- Rising oil prices amid Middle East tensions are adding sector-wide support for energy producers.