EOG Resources IncEOG
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Price target cut due to decline in oil prices after US-Iran MOU
Impact on stocks 1
Energy
EOG Resources IncMorgan Stanley analyst Devin McDermott lowered the price target on EOG Resources to $156 from $160 while maintaining an Equal Weight rating. The revision reflects updated estimates following a decline in oil prices after the U.S. and Iran announced a memorandum of understanding on June 14. Last month, Barclays raised its target to $153 from $140 with an Equal Weight rating, citing tighter oil macro conditions. In May, Mizuho raised its target to $157 from $149 with a Neutral rating, expecting prolonged impacts from the Iran crisis.
EOG Resources IncPrice target cut due to decline in oil prices after US-Iran MOU