TD Cowen downgraded Occidental Petroleum (OXY) to Hold from Buy with a price target of $45, down from $68. The firm has shifted its preference to gas-weighted equities following a $10 per barrel decline in crude pricing in the wake of recent tariff announcements and OPEC unleashing spare capacity. Occidental shares have come under increased pressure in recent days amid individual corporate challenges, the analyst tells investors in a research note.
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