Scotiabank analyst Paul Cheng downgraded EOG Resources (EOG) to Sector Perform from Outperform with an unchanged price target of $130. The firm cites the stock’s “rich” valuation relative to EOG’s mega-cap exploration and production peers for the downgrade. EOG ranks among the bottom of Scotiabank’s annual net asset value analysis for the E&P group, the analyst tells investors in a research note.
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Read More on EOG:
- EOG Resources downgraded to Sector Perform from Outperform at Scotiabank
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