JPMorgan analyst Arun Jayaram lowered the firm’s price target on Hess Corp. to $153 from $155 and keeps an Overweight rating on the shares. The analyst likes the near/term risk-reward on Hess shares citing the potential for favorable appraisal results at the Fangtooth discovery. This "could unlock meaningful resource potential in deeper objectives," says Jayaram, who anticipates a solid operational quarter featuring in-line volumes.
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