UPDATE: Morgan Stanley Initiates EOG Resources at Equal-Weight on Valuation
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
|Jan 2017||Bank of America||Upgrades||Neutral||Buy|
|Dec 2016||Atlantic Equities||Downgrades||Overweight||Neutral|
|Dec 2016||Stifel Nicolaus||Upgrades||Hold||Buy|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.