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Fly News Breaks for January 8, 2019
OAS
Jan 8, 2019 | 05:15 EDT
Stifel analyst Michael Scialla upgraded Oasis Petroleum to Buy and raised his price target for the shares to $14 from $10.50. Following the oil price selloff in Q4, the stock is valued at a 9% discount to the smid-cap Bakken peer group, Scialla tells investors in a research note. He believes OPEC production cuts and "tempered" U.S. spending could drive an oil price recovery this year. The analyst looks for Oasis Petroleum's "valuation gap to narrow this year."
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