Raymond James raised the firm’s price target on Occidental (OXY) to $75 from $64 and keeps an Outperform rating on the shares. Occidental is expected to report near-guidance domestic production in Q1, but international output is assumed to be temporarily reduced due to Iran-related disruptions affecting Middle East assets, including Al Hosn and Dolphin operations, leading to lower Gulf production through Q2-Q3 despite otherwise stable oil volumes, the analyst tells investors in a research note.
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