Hess Corp. upgraded to Buy from Hold at Deutsche Bank -$78 price target
from Deutsche Bank
The firm raised their price target on Hess from $54 to $78 and said, "Hess is still small enough to drive growth through exploration and improved consistency and credibility under John O Connor' s upstream leadership. Increased long-life natural gas assets in Egypt and Australia adds a stable underlying base to higher-decline deepwater fields. Finally, we see the potential for corporate action, not so much in terms of a takeover, but more from target disposals and the IPO of mature assets."