Murphy Oil price target raised to $52 from $51 at JPMorgan

JPMorgan analyst Arun Jayaram raised the firm’s price target on Murphy Oil to $52 from $51 and keeps an Overweight rating on the shares ahead of the Q1 report. The analyst anticipates a solid operational quarter, on the back of strong performance at the Terranova asset and successful completion of planned workover projects in the Gulf of Mexico.