Market Overview

UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Murphy Oil Corporation

Share:
Related MUR
Notable Stocks Trading Ex-Dividend Thursday, August 11
4 Takeaways From Barclays' Oil Stock Coverage
The Latest OPEC Agreement Could Be For Real (Seeking Alpha)

In a report published Friday, Deutsche Bank reiterated its Hold rating on Murphy Oil Corporation (NYSE: MUR), and raised its price target from $56.00 to $62.00.

Deutsche Bank noted, “Murphy Oil stock has been catalysed by activist hedge fund Third Point's letter to investors revealing a major stake and a $90+/share price target. We agree that major oils should being doing far more disposal, and almost no acquisition, given the current disparity between asset market valuations and equity market valuations, often extreme where management credibility is a concern. By forcing management to think harder about this issue, Third Point has released value. Raise Murphy Price Target to $62/share to reflect greater potential for disposals. Reiterate Hold on valuation.”

Murphy Oil Corporation closed on Thursday at $58.43.

Latest Ratings for MUR

DateFirmActionFromTo
Jul 2016UBSMaintainsNeutral
Jul 2016BarclaysUpgradesEqual-weightOverweight
Jun 2016Raymond JamesUpgradesUnderperformMarket Perform

View More Analyst Ratings for MUR
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (MUR)

View Comments and Join the Discussion!