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UPDATE: Morgan Stanley Initiates EOG Resources at Equal-Weight on Valuation

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Morgan Stanley initiated coverage on EOG Resources (NYSE: EOG) with an Equal-weight rating and a $120 price target.

Morgan Stanley commented, "Initiating coverage of EOG at Equal-weight; best basin priced in. In our view, EOG has been more successful than its peers in transitioning to an oil company; this is largely due to its success and early mover status in the Eagle Ford. We project superior cash flow growth relative to peers through 2016, but we believe EOG trades at a fair premium for this outlook."

EOG Resources closed at $118.61 on Monday.

Latest Ratings for EOG

DateFirmActionFromTo
Feb 2016GMP SecuritiesInitiates Coverage onBuy
Feb 2016JP MorganMaintainsNeutral
Jan 2016BarclaysMaintainsOverweight

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Posted-In: Morgan StanleyAnalyst Color Initiation Intraday Update Analyst Ratings

 

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