BMO Capital raised the firm’s price target on EOG Resources (EOG) to $160 from $140 and keeps an Outperform rating on the shares ahead of its Q1 results. The company should generate outsized free cash flow in the quarter given the oil hedges and higher relative exposure to JKM, the analyst tells investors in a research note. EOG is also pushing forward on its production and cost targets, along with its UAE/Bahrain exploration plans, BMO added.
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