Morgan Stanley raised the firm’s price target on EOG Resources (EOG) to $143 from $139 and keeps an Equal Weight rating on the shares. The firm, which marks its price deck for Q4 actuals and the latest forward strip, notes that its 2025 EBITDA estimates are moving 11% higher on average for the North American exploration and production group. The firm retains its preference for gas over oil and within oil prefers Majors and E&Ps with positive rate of change, the analyst added in a Q4 preview note.
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