Scotiabank analyst Paul Cheng raised the firm’s price target on Occidental (OXY) to $47 from $45 and keeps a Sector Perform rating on the shares. The firm is updating its price targets for U.S. Integrated Oil, Refining, and Large Cap E&P stocks under its coverage, the analyst tells investors. While the firm’s latest forecast is above consensus, the revised estimates are “disappointing” compared to what industry margin indicators originally suggested.
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