Roth MKM downgrades APA Corp to 'neutral', cuts PT
** Roth MKM cuts rating on oil and gas producer APA Corp APA.O to "neutral" from "buy", lowers price target by 4% to $22
** Still, the new price target represents a 7.6% upside to the stock's last close
** Brokerage is concerned that global oil prices are going even lower; sees risk to the downside for oil in 1H26 as well
** "We also think the global oil demand outlook is uncertain right now due to the current tariff war, and both of these factors are likely to result in rising global oil inventory levels in 2H25," - Roth
** Brokerage expects to see the quality of the company's Permian wells start to deteriorate towards the end of this decade, as it generally has acreage that is not as economic as some of its better-positioned peers
** 5 of 30 brokerages rate the stock "buy" or higher, 20 "hold" and 5 "sell"; median PT is $22 - data compiled by LSEG
** Up till last close, stock down ~11% YTD
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