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Fly News Breaks for February 20, 2020
BKR, EOG, PXD
Feb 20, 2020 | 09:17 EDT
As previously reported, Edward Jones analyst Jennifer Rowland downgraded Pioneer Natural (PXD), EOG Resources (EOG) and Baker Hughes (BKR), all to Hold from Buy, after she lowered her long-term price forecasts for both oil and natural gas. Given the "increasingly challenged" commodity price environment, she sees a difficult environment for energy equipment & services companies and for exploration and production companies, Rowland tells investors.
News For PXD;EOG;BKR From the Last 2 Days
EOG
Apr 20, 2021 | 07:20 EDT
Mizuho analyst Daniel Boyd raised the firm's price target on EOG Resources to $92 from $90 and keeps a Buy rating on the shares. The analyst expects Q1 earnings "to be supportive" of the energy group with "capital discipline and cash return remaining at the forefront."
EOG
Apr 20, 2021 | 04:48 EDT
Goldman Sachs analyst Neil Mehta downgraded EOG Resources to Neutral from Buy with a price target of $80, down from $85. The analyst believes the company continues to be a leader in corporate returns, free cash flow and balance sheet strength, but thinks this is largely already reflected in valuation.
BKR
Apr 19, 2021 | 09:53 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Sempra Energy (SRE) upgraded to Buy from Neutral at Mizuho with analyst Anthony Crowdell saying Sempra sold down 20% of Sempra Infrastructure Partners for an "attractive" 13.4 times multiple. 2. Albemarle (ALB) upgraded to Outperform from In Line at Evercore ISI with analyst Stephen Richardson saying after reaching a bottom in the second half of 2020, lithium pricing has continued to move higher led by battery grade carbonate as inventories in the supply chain work down. 3. Textron (TXT) upgraded to Outperform from Neutral at Credit Suisse with analyst Robert Spingarn saying he is more positive on the company's business jet segment exiting the pandemic, particularly the light and mid-sized jet segments where Textron concentrates. 4. Baker Hughes (BKR) upgraded to Outperform from Market Perform at BMO Capital with analyst Philip Jungwirth saying Baker shares have materially lagged Schlumberger (SLB) and Halliburton (HAL) with the recovery in oil prices and upstream spending, creating an attractive entry point. 5. Livent (LTHM) upgraded to Outperform from In Line at Evercore ISI with analyst Stephen Richardson saying while first half of 2021 pricing trends are expected to be challenging for lithium producers that are largely contracted, the movement of spot indices above indicative contract prices is a key catalyst for the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BKR
Apr 19, 2021 | 05:42 EDT
BMO Capital analyst Philip Jungwirth upgraded Baker Hughes (BKR) to Outperform from Market Perform with a price target of $26, down from $27, implying 34% upside. Baker shares have materially lagged Schlumberger (SLB) and Halliburton (HAL) with the recovery in oil prices and upstream spending, creating an attractive entry point, Jungwirth tells investors in a research note. The analyst expects positive revisions to Baker's "conservative" oilfield services outlook, "accelerating the achievement of double-digit margins."