UBS lowered the firm’s price target on Occidental (OXY) to $45 from $46 and keeps a Neutral rating on the shares following the sale of OxyChem. While the debt reduction is the key positive, the transaction was dilutive across key metrics and valuation, the $8.3B Preferred Equity remains and limits shareholder returns, One Big Beautiful Bill tax benefits decline, and the comp to Large Cap peers is less attractive, the analyst tells investors in a research note.
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