Mizuho lowered the firm’s price target on Magnolia Oil & Gas to $24 from $26 and keeps a Neutral rating on the shares. The firm enters 2024 with a preference for more defensive stock selection in oil and gas. It downgraded eight stocks, while upgrading three. Mizuho’s top picks for 2024 are Chevron (CVX), Coterra Energy (CTRA) and Civitas Resources (CIVI). It maintains a Buy rating on Diamondback Energy (FANG), but removed the stock from the top pick list.
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