Analyst Actions: Hess Corp. Upgraded, TP Raised $6 at Credit Suisse; Shares Rise 1%

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Hess Corp. ( HES ) has been upgraded by analysts at Credit Suisse with a Neutral rating from Underperform. The price target on the stock was raised to $68 from $62 a share.

"There has been enough good NAV news to offset lower near-term cashflow growth efficiency. In particular, we highlight success in Ghana and industry progress in the Utica," said Credit Suisse. "Asset sales are closing the gap with outspend given our improving confidence in Brent oil price support. At this point it feels appropriate to increase weightings to Neutral relative to the E&P universe."

However, the firm decreased its 2013 EPS by 6% to $7.23 after incorporating the sale of Russia and updating its commodity price deck. It also lowered its 2012/2014 EPS estimates to $6.10/$6.82 (from $6.64/$7.07) respectively.


Shares of HES are up 0.52% to $56.54 in mid-day trading, and are within a 52-week range of $39.67 - $67.86.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: HES

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