National Fuel price target raised to $102 from $98 at Scotiabank

Scotiabank raised the firm’s price target on National Fuel (NFG) to $102 from $98 and keeps an Outperform rating on the shares. The Q2 earnings from U.S. Natural Gas stocks under its coverage featured “mixed” results, the analyst tells investors. Looking ahead, the firm sees two positive themes, improving capital efficiencies and positive cash flow implications from the One Big Beautiful Bill, and expects further developments on data centers as a key factor over the next few quarters. The firm continues to see National Fuel as a high-quality, lower-risk name in the sector.