Murphy Oil price target raised to $26 from $24 at Wells Fargo

Wells Fargo raised the firm’s price target on Murphy Oil (MUR) to $26 from $24 and keeps an Equal Weight rating on the shares. The firm noted a transfer of coverage to Hanwen Chang. While investor interest in Murphy’s high-impact global exploration is growing, the firm sees risk/reward as balanced at this time, the analyst tells investors in a research note.