Mizuho analyst Nitin Kumar raised the firm’s price target on Earthstone Energy to $23 from $22 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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ESTE:
- Earthstone Energy downgraded to Equalweight from Overweight at Capital One
- Permian Resources price target raised to $20 from $18 at Stifel
- Permian Resources price target raised to $16 from $14 at Citi
- Permian Resources price target raised to $18 from $15 at Stifel
- Permian Resources price target raised to $18 from $16 at Truist
