Chord Energy price target lowered to $193 from $194 at Piper Sandler

Piper Sandler lowered the firm’s price target on Chord Energy (CHRD) to $193 from $194 and keeps an Overweight rating on the shares. Heading into Q4, the firm is updating Chord Energy’s estimates and taking a refreshed look at asset productivity trends. Piper thinks the stock is poised to turn it around in FY25, with the shift toward long-lateral development giving greater visibility into long-term reinvestment and the Enerplus acquisition bringing Chord Energy some of the best remaining oil inventory in the lower 48.