Market Overview

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

Related MUR
S&P Capital Sees Good Upside Potential For Murphy Oil Corporation
Murphy Oil Corp. (MUR) Misses on Q2 Earnings, Guides Down
Energy Stocks Move Higher as Oil Spikes (Fox Business)

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
Oct 2014Morgan StanleyMaintainsEqual-weight
Sep 2014Alembic Global AdvisorsInitiates Coverage onNeutral
Aug 2014Deutsche BankMaintainsHold

View More Analyst Ratings for MUR
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (MUR)

Around the Web, We're Loving...

Get Benzinga's Newsletters