Citi analyst Scott Gruber raised the firm’s price target on EOG Resources to $130 from $124 and keeps a Neutral rating on the shares. The analyst updated exploration and production models for the Q1 results and latest guidance as well as tweaks to Citi’s oil and gas price forecasts. The firm expects development programs to be pulled forward on the margin, saying a few more wells could be added to current programs to the benefit of volumes.
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