BofA reinstated coverage of Northern Oil and Gas with a Buy rating and $48 price target. The company offers long-duration Permian oil growth, the analyst tells investors in a research note. The firm says Northern Oil’s low leverage and current multiple positions it well to navigate the current acquisition environment while its free cash flow capacity allows for an “all above approach” to increase per share value and continue deleveraging.
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Read More on NOG:
- Northern Oil and Gas price target raised to $43 from $42 at Piper Sandler
- Northern Oil and Gas price target lowered to $50 from $55 at Citi
- Northern Oil and Gas reports Q1 adjusted EPS $1.28, consensus $1.19
- Northern Oil And Gas (NOG) Q1 Earnings Cheat Sheet
- Northern Oil and Gas price target raised to $55 from $54 at Stifel
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