As previously reported, Scotiabank analyst Paul Cheng upgraded EOG Resources to Outperform from Sector Perform with a price target of $145, down from $150, stating that the upgrade "signals our shift back to E&P following the latest OPEC+ announcement." Though EOG is "not cheap" relative to other smaller exploration and production companies, the firm continues to view it as the "premium operator in the E&P land" and deserving of a premium over peers, the analyst tells investors.
Published first on TheFly
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