Piper Sandler analyst, Mark Lear raised his target on EOG Resources to $60 from $51. The Overweight rating on the stock was maintained. Lear upgraded the target on the improvement in Q3 results and his positive perspective towards exploration and production companies. The earnings demonstrated a capital expenditure reduction and the prospects of a recovery in demand for 2021 raising the company’s valuation model.
STA Research has a average target on the stock of $61.50, and a consensus Buy rating. The technical indicator is currently bullish.