BofA lowered the firm’s price target on EOG Resources (EOG) to $124 from $125 and keeps a Neutral rating on the shares. The firm is updating its price targets on U.S. Oil and Gas stocks under its coverage following Q1 results, the analyst tells investors. BofA sees a bull case for oil starting with summer demand, but notes it is “tenuous at best” due to geopolitics. Additionally, the firm continues to see a cleaner set-up in dry natural gas but notes the upside in this sub-sector has compressed.
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- EOG Resources price target lowered to $134 from $140 at Mizuho
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