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Fly News Breaks for September 27, 2018
HES
Sep 27, 2018 | 16:49 EDT
Piper Jaffray analyst Ryan Todd downgraded Hess Corp. to Neutral from Overweight after assuming coverage and raised his price target on shares to $83 from $60. The analyst cited the recent share appreciation as "indicative of a market likely overextending the sustainability of recent near-term tail-winds/head-winds" for Hess and its peers. Todd also sees little possibility of a sustained buyback program or aggressive dividend hike following the current program.
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