Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - UBS maintained its Buy rating and $173.00 price target on Hess Corp . (NYSE:HES) following meetings with the company’s VP of Investor Relations in London last week.
The investment firm cited ongoing arbitration proceedings and updates on Hess’s Guyana operations as key topics discussed during the meetings with Jay Wilson. UBS noted these factors were primary areas of investor focus during the London discussions.
UBS continues to see a favorable risk-reward ratio exceeding 3:1 for the energy company, with the outcome of the current arbitration representing a critical catalyst for the stock’s future performance.
The meetings also included reviews of Hess’s other key assets beyond Guyana and broader discussions about macroeconomic factors affecting oil markets, according to UBS’s assessment.
Hess Corp. maintains significant offshore operations in Guyana, where it partners with Exxon Mobil (NYSE:XOM) in developing substantial oil discoveries that have become increasingly important to the company’s growth strategy.
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