Northern Oil and Gas price target raised to $50 from $46 at Citi

Citi raised the firm’s price target on Northern Oil and Gas (NOG) to $50 from $46 and keeps a Buy rating on the shares. The company reported Q3 earnings with adjusted cash flow of $377.1M, moderately above consensus, the analyst tells investors in a research note. The firm likes Northern Oil’s “low-risk business model,” which it says is buoyed by improving efficiencies and further increases to scale balanced against an uncertain macroeconomic environment.