Hess Corp. price target raised to $167 from $166 at Piper Sandler

Piper Sandler analyst Ryan Todd raised the firm’s price target on Hess Corp. to $167 from $166 and keeps an Overweight rating on the shares. The analyst says sentiment is "notably mixed" across integrated oils into the Q1 reports. While upstream leverage has bounced meaningfully from mid-March lows, sentiment has turned bearish on refining due to persistent recession-led demand concerns, the analyst tells investors in a research note. However, Piper remains constructive on refining.