BofA raised the firm’s price target on Northern Oil and Gas (NOG) to $33 from $29 and keeps a Buy 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.
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Read More on NOG:
- Northern Oil and Gas price target raised to $36 from $35 at Raymond James
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- Northern Oil And Gas Reports Record Q1 Performance
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