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Fly News Breaks for January 8, 2020
Jan 8, 2020 | 05:13 EDT
Mizuho analyst Paul Sankey upgraded Occidental Petroleum to Buy from Neutral with a price target of $58, up from $44. The analyst believes the "worst is behind the company" and sees an "increasing line of sight" for sustainable dividend growth in 2022 and beyond. With the stock currently yielding 7.0%, a yield supported by recent improvement in oil prices, and Occidental having made good recent progress on divestitures, the time is now for an upgrade, Sankey tells investors in a research note.