Jefferies analyst Lloyd Byrne raised the firm’s price target on Northern Oil and Gas to $50 from $41 and keeps a Buy rating on the shares. Despite a “deluge” of Q2 earnings, perhaps the biggest news last week was Saudi’s commitment to extend the 1mmb/d voluntary cuts through September and this re-occurance is “commanding the investment communities attention,” as the Saudis with Russia’s support appear “intent on tightening the market from here,” the analyst tells investors.
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