Piper Sandler analyst Mark Lear lowered the firm’s price target on Berry Corporation to $7 from $8 and keeps a Neutral rating on the shares. The firm reduced its gas price forecasts to reflect the view that the gas market remains over-supplied. Piper reduced its mid-cycle gas price forecast to $3.25 from $4 as it anticipates operating efficiencies and improving cycle times will continue to drive a lower marginal cost of supply. It also trimmed its intermediate-term oil forecast.
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Read More on BRY:
- Correction Notice to Press Release Issued August 9, 2024, Regarding Dividend Record Date and Payment Date
- Berry Corporation reports Q2 adjusted EPS 18, consensus 20c
- Berry Petroleum (BRY) Q2 Earnings Cheat Sheet
- Berry Corporation to Report Second Quarter 2024 Results and Hold Conference Call August 9
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