Piper Sandler analyst Mark Lear lowered the firm’s price target on EOG Resources (EOG) to $140 from $149 and keeps a Neutral rating on the shares. The firm is updating its thoughts on the U.S. upstream landscape heading into what is shaping up as a tricky investment environment in FY25. Piper has updated its estimates for its revised oil outlook, looking at free cash flow/EV sensitivities at various oil and gas price scenarios, and rolled out FY26 comps and updated projections of oil and gas prices discounted in its coverage.
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Read More on EOG:
- EOG Resources upgraded to Overweight from Equal Weight at Wells Fargo
- EOG Resources call volume above normal and directionally bullish
- EOG Resources price target lowered to $148 from $156 at Mizuho
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- EOG Resources price target raised to $141 from $132 at JPMorgan