JP Morgan changes PT and rating on energy cos citing supply risks
J.P. Morgan changes PT and rating on oil and gas companies citing supply side risks and long-awaited demand inflection for natural gas
Brokerage says the magnitude of the oversupply plus the potential easing of geopolitical tensions would make this a speculative call at best
Sees potential for global oil stocks to swell by a whopping 2.8 million barrels of oil per day in 2026 absent any intervention from the OPEC+ cartel or producer capex cuts
Brokerage changes PT and rating on the following companies:
Company | Old PT | New PT | Upside/downside to the stock's last close | Rating Change |
APA Corp APA.O | $28 | $26 | 4.06% downside | - |
ConocoPhillips COP.N | $112 | $102 | 8.9% upside | - |
EOG Resources EOG.N | $131 | $121 | 7.9% upside | - |
Diamondback Energy FANG.O | $166 | $159 | 0.25% upside | - |
Occidental Petroleum OXY.N | $51 | $44 | 3.7% upside | downgrades to "Underweight" from "Neutral" |
Expand Energy EXE.O | $130 | $132 | 7.4% upside | - |
EQT Corp EQT.N | $62 | $64 | 5.5% upside | - |
Related Articles
TradingKey 2025 Markets Recap & Outlook | Bitcoin Price Repeatedly Hits New Highs, 2026 Can BTC Write Another Legend?
Multiple tailwinds in 2025 propelled Bitcoin to new highs, but many of these positives have already been priced in. In 2026, Bitcoin faces challenges such as liquidity tightening, as well as regulatory and monetary policy uncertainties. Wall Street is divided on Bitcoin's future outlook, with target
TradingKey 2025 Markets Recap & Outlook | Global Central Banks 2026 amid Post‑Easing Recovery and Diverging Paths
TradingKey - In 2025, major global central banks will largely maintain an accommodative stance, but the policy pace will decelerate notably. As the easing cycle draws to a close, how will global monetary policy evolve?
Ripple Price Prediction: Why Is XRP Price Falling? Can It Rise to $10 in the Future?
XRP has weakened this year due to profit-taking, capital outflows, and its correlation with Bitcoin. Despite support from potential spot ETFs and positive regulatory developments, significant market divergence, liquidity uncertainty, and macroeconomic uncertainty remain high. XRP's price is likely t
Elon Musk’s SpaceX Poised for Record-Breaking IPO: How Can Retail Investors Get In on the Action of Starlink Stock?
TradingKey - Elon Musk's rocket manufacturer SpaceX is expected to launch an IPO in 2026, with a target IPO valuation projected to reach $1.5 trillion. However, prior to its listing, the stock can only be traded in the private market, characterized by low information transparency and high capital ba
