Occidental Petroleum price target raised to $73 from $72 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Occidental Petroleum to $73 from $72 and keeps an Overweight rating on the shares. After rallying from February to mid-April, oil E&P and Integrated stocks, as well as crude oil, have pulled back, the analyst tells investors. Fundamentals are positively skewed heading into summer, but there are some emerging risks, Morgan Stanley adds. The firm is refreshing its estimates and remains constructive but selective on its positions in the sector.