VET - Antero wins double upgrade at J.P. Morgan on positive NGL view

Antero Resources (AR) +6.6% pre-market after J.P. Morgan upgrades shares by two notches to Overweight from Underweight with a $6 price target, "largely driven by our constructive macro call on NGLs, specifically C3+ liquids pricing."Antero Resources is uniquely positioned to take advantage of anticipates declines in U.S. supply for natural gas liquids and robust international demand for liquefied petroleum gases, particularly in Asia, says JPM's Arun Jayaram.JPM also upgrades QEP Resources (QEP) to Overweight from Neutral while downgrading EQT Corp. (EQT) to Neutral from Overweight and Vermilion Energy (VET) to Underweight from Neutral.On QEP, Jayaram believes higher oil prices will allow the company to address its 2022-23 debt maturities, helped by increased free cash flow, improving well productivity and continued leadership on the cost front.EQT's downgrade reflects "a bearish recent turn in natural gas supply and demand data... which we believed has reduced the likelihood of an upside turn in

For further details see:

Antero wins double upgrade at J.P. Morgan on positive NGL view