Scotiabank Downgrades EOG Resources to Sector Perform, Raises Price Target to $155
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Paul Cheng downgraded EOG Resources (NYSE:EOG) from Sector Outperform to Sector Perform while raising the price target from $135 to $155.
April 11, 2024 | 3:13 pm
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NEUTRAL IMPACT
EOG Resources was downgraded by Scotiabank from Sector Outperform to Sector Perform, but its price target was increased from $135 to $155.
The downgrade to Sector Perform suggests a neutral outlook on EOG Resources' stock, indicating that the analyst believes the stock might perform in line with the sector. However, the increase in the price target from $135 to $155 signals a positive view on the company's valuation, suggesting potential upside. This mixed signal could lead to short-term uncertainty among investors, balancing out the potential short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100