BofA raised the firm’s price target on Chord Energy (CHRD) to $123 from $112 and keeps a Buy rating on the shares. After market on September 15, Chord announced plans to acquire a $550B bolt-on from XTO energy, and the firm sees the deal as accretive to its price target by $3 per share as the lower breakeven acreage further improves the company’s 2026+ development program. The firm also updated its model, marketing to market recent moves in strip and the company’s buyback activity.
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