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UPDATE: Societe Generale Downgrades Hess Corporation to Hold on Limited Upside

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Societe Generale downgraded Hess Corporation (NYSE: HES) from Hold to Buy with a $68.00 price target.

Societe Generale commented, "We downgrade the stock to Hold from Buy even though we very much like what HES is doing operationally. … Our rationale for downgrade is that we don't believe that it makes sense to vivisect further, and that given HES's debt adjusted metrics, that we can't find another 15% upside (as per SG's absolute rating/valuation system) over the intermediate term without significant improvement to the global macro environment."

Hess Corporation closed at $68.10 on Wednesday.

Posted-In: Societe GeneraleAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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