Piper Sandler raised the firm’s price target on EOG Resources (EOG) to $144 from $127 and keeps a Neutral 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.
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- EOG Resources price target raised to $127 from $123 at Piper Sandler