Mizuho trims PT on key oil stocks over OPEC+ supply surge
** Mizuho says the sheer volume of oil coming to market from OPEC+ should overwhelm robust demand and escalate geopolitical tensions early in 2026
** "Weak power generation demand, higher than expected supply, and unexpected LNG maintenance combined to push gas storage back above 5-year averages" - Mizuho
** However, brokerage raises price targets for refiners to reflect sustained strength in cracks
Brokerage changes PT on following companies:
Company | New PT | Old PT | Upside/downside to last close |
Exxon Mobil XOM.N | $123 | $124 | 9.6% |
Chevron CVX.N | $191 | $192 | 21.5% |
ConocoPhillips COP.N | $120 | $125 | 30% |
Viper Energy VNOM.O | $51 | $55 | 32.2% |
EQT Corp EQT.N | $60 | $66 | 10% |
Occidental Petroleum OXY.N | $58 | $65 | 27% |
Permian Resources PR.N | $19 | $20 | 38.6% |
Devon Energy DVN.N | $40 | $43 | 16% |
APA Corp APA.O | $18 | $19 | 21% downside |
Crescent Energy CRGY.N | $10 | $12 | 15.3% |
Phillips 66 PSX.N | $142 | $140 | 8.6% |
Marathon Petroleum MPC.N | $188 | $184 | 4.3% |
Related Articles
September Global Central Bank Divergence: How Will U.S. Stocks and Forex Markets Move?
TradingKey - Despite the divergence in monetary policies among major global central banks in September (with the Federal Reserve cutting rates while the European Central Bank, Bank of England, and Bank of Japan maintain steady rates), we expect the policy directions of the Fed, ECB, and BoE to...
Duolingo (DUOL): Can the Green Bird Fly High Again
TradingKey - Duolingo is a great business, despite the stock price being down nearly 50% from its peak less than four months ago. However, the question is whether it’s worth buying it at a market cap of $12.5 billion. The answer is “not yet” because the traffic, even though healthy...
U.S. September Rate Decision Preview: What It Means for Bitcoin and Could It Spark a New Rally?
Bitcoin’s rally stalls ahead of the Fed meeting — has the bullish momentum already been priced in?
UK July GDP Commentary: Can GBP Break Through Its Current Fluctuation?
After considering multiple factors, given the evident weakness on both sides of this currency pair, we expect the GBP/USD exchange rate to maintain its current fluctuation trend in the short term.
Fed to Cut Rates: All Asset Prices Up!
TradingKey - The Federal Reserve is almost certain to restart its interest rate cut cycle on 17 September this year. After in-depth research, we have concluded that cryptocurrencies, the broader U.S. stock market, and short-term U.S. Treasury bonds will all go up.
