National Fuel price target raised to $85 from $77 at BofA

BofA analyst Kalei Akamine raised the firm’s price target on National Fuel (NFG) to $85 from $77 and keeps an Underperform rating on the shares. The firm is updating its price targets on U.S. Oil and Gas stocks under its coverage following Q1 results, the analyst tells investors. BofA sees a bull case for oil starting with summer demand, but notes it is “tenuous at best” due to geopolitics. Additionally, the firm continues to see a cleaner set-up in dry natural gas but notes the upside in this sub-sector has compressed.