UPDATE: Wunderlich Securities Downgrades EOG Resources to Hold; Shares Near PT
Wunderlich Securities lowered its rating on EOG Resources (NYSE: EGO) from Buy to Hold but raised its price target from $128 to $132.
Wunderlich Securities noted, "The company has managed to capture some of the best oily resource plays in the U.S. while keeping a lean balance sheet. Mark Papa and his team did a great job, mission accomplished. With shares making new highs and nearing our target, we are downgrading EOG, a great E&P name that is fairly priced, in our view, to Hold."
EOG Resources closed at $121.98 on Tuesday.
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Tags: Wunderlich Securities