Wells Fargo upgraded EOG Resources (EOG) to Overweight from Equal Weight with a price target of $150, up from $147. The firm favors gas equities in 2025, saying the favorable fundamentals for gassy exploration and production companies s are well known but still favorable. With both power generation and liquified natural gas exports ramping higher through 2030, U.S. natural gas demand growth might deliver three-times volume growth versus global oil demand, the analyst tells investors in a research note. Wells adjusted ratings in the sector as part of its 2025 outlook.
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