BUZZ-Mizuho raises price target on energy companies

Reuters03-17 22:02
BUZZ-Mizuho raises price target on energy companies 

** Mizuho raises price target on energy companies citing a higher oil-price deck and reduced risk of 2026 oversupply

** "In our view, just one month of displaced crude output from the Middle East reduces the anticipated F2026 oversupply in global oil markets. The situation remains fluid, but the probability of low-50s Brent.... is negligible at this point" - Mizuho

Brokerage raises price targets on the following companies:

Company

Old PT

New PT

Upside/Downside to the stock's last close

Exxon Mobil XOM.N

$140

$162

3%

Chevron CVX.N

$206

$217

10.2%

Phillips 66 PSX.N

$152

$170

(2%)

Diamondback Energy FANG.O

$205

$220

20.6%

Marathon Petroleum MPC.N

$205

$224

(2.1%)

Valero Energy VLO.N

$197

$222

(4.5%)

ConocoPhillips COP.N

$121

$136

12.1%

Coterra Energy CTRA.N

$36

$43

~33%

EOG Resources EOG.N

$134

$146

8.5%

(Reporting by Dharna Bafna in Bengaluru)

((dharna.bafna@thomsonreuters.com))

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