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Fly News Breaks for March 13, 2017
MRO, RDS.A, CNQ
Mar 13, 2017 | 07:37 EDT
Canaccord analyst Dennis Fong raised his price target on Canadian Natural (CNQ) following its agreement to acquire 70% of the Athabasca Oil Sands Project from Shell (RDS.A) and Marathon (MRO), a 70% interest in the Scotford upgrader, and various working interests of other producing and non-producing oil sands assets. The price target was raised to C$50 from C$47 to reflect the increase in free cash flow. Fong reiterated his Buy rating on Canadian Natural shares.
News For A;MRO From the Last 2 Days
MRO
Mar 28, 2024 | 09:26 EDT
Morgan Stanley raised the firm's price target on Marathon Oil to $26 from $24 and keeps an Equal Weight rating on the shares. The energy sector is experiencing an improving macro backdrop, which has led to a catch-up trend experience in energy stocks, the analyst tells investors. With valuations still 2x the historic discount vs S&P, strong free-cash-flow yields, and positive earnings revisions, the firm sees a path to further outperformance.