Scotiabank Maintains Sector Outperform on Occidental Petroleum, Lowers Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Paul Cheng maintains a Sector Outperform rating on Occidental Petroleum but lowers the price target from $80 to $65.

October 10, 2024 | 5:20 pm
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Scotiabank has maintained its Sector Outperform rating for Occidental Petroleum but has reduced the price target from $80 to $65, indicating a more conservative outlook.
The maintenance of a Sector Outperform rating suggests continued confidence in Occidental Petroleum's performance relative to its peers. However, the reduction in the price target from $80 to $65 indicates a more cautious outlook on the stock's potential upside, likely due to changes in market conditions or company performance expectations. This mixed signal could lead to short-term downward pressure on the stock price as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100