William Blair initiated coverage of Chord Energy (CHRD) with an Outperform rating and no price target With the stock’s underperformance relative to peers, investors are missing Chord’s “low-well breakeven, solid free cash flow, and pristine balance sheet,” the analyst tells investors in a research note. The firm believes the company will acquire a large-scale Bakken asset. Chord’s “capital discipline ensures down-cycle stability,” Blair contends. It thinks the stock’s weighted fair value is $129 per share, or 42% upside from current levels.
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Read More on CHRD:
- Chord Energy initiated with an Outperform at William Blair
- Chord Energy: Strong Financial Position and Growth Potential Justify Buy Rating
- Chord Energy price target lowered to $123 from $128 at Morgan Stanley
- Chord Energy price target lowered to $165 from $167 at Piper Sandler
- Chord Energy price target raised to $113 from $108 at Wells Fargo