JPMorgan raised the firm’s price target on EOG Resources (EOG) to $145 from $125 and keeps a Neutral rating on the shares. The firm says oil market fundamentals “shifted on a dime” due to the Middle East conflict. The war has significantly reduced global productive capacity and “quickly evaporated the risk” of a supply glut in 2026 following the closure of the Strait of Hormuz, the analyst tells investors in a research note. JPMorgan would not be surprised to see a $5-$10 per barrel geopolitical risk premium embedded into the long-end of the oil price curve.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EOG:
- EOG Resources price target raised to $146 from $134 at Mizuho
- EOG Resources price target raised to $135 from $125 at BofA
- EOG Resources price target raised to $155 from $127 at Wells Fargo
- Oil Near $100 Could Deliver $63 Billion Windfall for U.S. Shale Stocks EOG, DVN, FANG, and PR
- EOG Resources price target raised to $140 from $133 at Barclays