Piper Sandler analyst Mark Lear raised the firm’s price target on Chord Energy (CHRD) to $190 from $158 and keeps an Overweight rating on the shares. Piper cites its increased price deck for the target bump. The firm increased its mid-cycle crude price forecast to $75 per barrel from $70 amid the Iran war. The analyst expects lasting supply impacts. Higher prices are required to incentivize investment in production, the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHRD:
- ‘Buy Energy’: UBS Suggests 2 Energy Stocks to Consider Amid Geopolitical Risk
- The Week That Was, The Week Ahead: Macro and Markets, Mar. 8
- Chord Energy price target raised to $120 from $97 at Citi
- Chord Energy price target raised to $158 from $151 at Piper Sandler
- Chord Energy price target raised to $142 from $119 at UBS