We like this gas infrastructure company back around $8, aided by a forecast yield of over 6.8% over the next 12-months. However, the major trend is down, and comments such as those by Jerome Powell could take the euphoria out of the sector, affording us an enticing entry opportunity.
- We are ultimately targeting a retest of $10 by APA, but the risk/reward is average ~$8.50 – we hold APA in our Active Income Portfolio.
MM is keen on APA around $8
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