BofA analyst John Abbott initiated coverage of Chord Energy with a Buy rating and $178 price target. The Buy rating reflects a prospective rate of change in capital efficiency as drilling shifts to a greater mix of longer laterals, the analyst tells investors in a research note. The firm’s analysis suggests Chord’s valuation may be "risked" on conservative assumptions, and sees the company focused on capital discipline, free cash flow generation, and returning cash to shareholders.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on CHRD: