BUZZ-Citigroup raises PT on key US energy companies

Reuters04-02
BUZZ-Citigroup raises PT on key US energy companies

** Citigroup raises price target on U.S. energy companies, citing a longer-term return of investor interest in oil and gas

** Brokerage says the energy sector still dominates global energy demand, while renewables remain a small share

** Energy stocks outperformed oil prices and the broader market, showing investors are starting to view oil and gas as a growth sector again despite lower buybacks - Citigroup

Brokerage raises PT on the following companies:

Company

Old PT

New PT

Upside/downside to the stock last close

Exxon Mobil XOM.N

$150

$175

8.8% upside

Chevron CVX.N

$210

$235

19% upside

ConocoPhillipsCOP.N

$135

$150

16.8% upside

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))

At the request of the copyright holder, you need to log in to view this content

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