BUZZ-Mizuho changes PT for US oil and gas companies to reflect crude price rebound

Reuters12-12 21:30
BUZZ-Mizuho changes PT for US oil and gas companies to reflect crude price rebound

** Mizuho changes price targets for oil and gas companies to reflect its outlook for oil's rebound by 2H26, higher U.S. gas prices on structural undersupply, and refining margins normalizing as global capacity expands

** Brokerage suggest reallocation of risk toward oil E&Ps with selective bias in gas stocks, while they turn more neutral on refining

** Despite negative sentiment on oversupply and high gas storage, brokerage sees underappreciated long-term value in E&Ps starting in 2026

Brokerage changes PT and rating for the following companies:

Companies

Old PT

New PT

Upside/downside to the stock's last close

Rating change

APA Corp APA.O

$20

$22

15.2% downside

-

Chevron CVX.N

$204

$206

36.7% upside

-

Devon Energy DVN.N

$40

$43

14.5% upside

-

Diamondback Energy FANG.O

$176

$195

24.2% upside

-

EQT Corp EQT.N

$60

$68

21.3% upside

-

Exxon Mobil XOM.N

$129

$132

10.4% upside

-

PBF Energy PBF.N

$31

$38

23.3% upside

upgrades to "neutral" from "underperform"

Marathon Petroleum MPC.N

$188

$198

5.8% upside

-

Phillips 66 PSX.N

$145

$150

4.6% upside

-

Valero Energy VLO.N

$190

$192

11.7% upside

downgrades to "neutral" from "outperform"

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment