ISI Group Raised Hess Corporation's PT Based on Optimistic Meeting with CEO

ISI Group analyst Doug Terreson raised Hess Corp.'s

PT from $80 to $92. After a “positive” meeting with CEO John Hess, Terreson noted that surplus funds are substantial in 2013-2015 and are expected to rise to $6-7B. The analyst is confident in major operating, strategic, and financial incentives success. In a report on Tuesday, Societe Generale downgraded Hess Corp.'s rating from buy to hold. ISI Group's note maintained optimism after their meeting with Hess and their $92 PT remains ahead of the average PT of $85. Hess shares are up 51% YTD. HES closed at $79.96 on Wednesday.