Mizuho raised the firm’s price target on Civitas Resources to $94 from $90 and keeps a Neutral rating on the shares. The analyst updated oil and gas estimates to reflect the commodity price rebound in Q3. A resurgent commodity price complex – particularly oil and refining cracks – have driven a share rebound as investors focus on OPEC+ cuts, undersupply in global oil markets, and product inventory tightness, the analyst tells investors in a research note.
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Read More on CIVI:
- Civitas Resources initiated with a Buy at Siebert Williams
- Civitas Resources initiated with an Outperform at BMO Capital
- Civitas Resources initiated with a Buy at Jefferies
- Civitas Resources price target raised to $96 from $84 at KeyBanc
- Civitas Resources price target raised to $90 from $80 at Mizuho