Raymond James Maintains Strong Buy on Occidental Petroleum, Lowers Price Target to $68
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst John Freeman has maintained a Strong Buy rating on Occidental Petroleum (NYSE:OXY) but has reduced the price target from $70 to $68.
January 24, 2024 | 8:13 pm
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NEUTRAL IMPACT
Occidental Petroleum's Strong Buy rating is maintained by Raymond James, although the price target is lowered from $70 to $68.
While the reduction in price target could suggest a slightly less optimistic outlook on the stock's valuation, the maintenance of a Strong Buy rating indicates that Raymond James still has a positive view on Occidental Petroleum's prospects. This mixed signal could lead to a neutral short-term impact on the stock price as investors weigh the lower price target against the reaffirmed confidence in the company's performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100