Securities Times Online News: Morgan Stanley has lowered its target price for Western Oil Company from $71 to $63, maintaining its overweight rating. Recently, the company plans to acquire the oil drilling company Crown Rock for $10.8 billion. After adjusting the third quarter 2024 financial report, both earnings per share and net sales have decreased.
According to FactSet data, the average rating for Western oil is hold, with an average target price of $61.72. Multiple institutions have made adjustments to the stock prices of Western oil companies, with UBS lowering its target price from $58 to $51 and maintaining a neutral rating; Wells Fargo has lowered its target price from $56 to $53; Jeffrey has lowered its target price from $54 to $52, maintaining its holding rating; Citigroup has lowered its target price from $57 to $56, maintaining a neutral rating.