Morgan Stanley maintained an Overweight rating on Chord Energy while lowering its price target to $169 from $175, citing a decline in oil prices since the U.S. and Iran announced a memorandum of understanding on June 14. The firm noted that WTI is now only slightly above pre-conflict levels and refreshed its estimates for the latest energy prices. Earlier, Mizuho raised its price target to $175 from $164 with an Outperform rating, expecting a prolonged impact from the Iran crisis on global oil prices and refining cracks, and lifted its 2026 and 2027 oil price outlook by 25% and 6% respectively. Truist also lowered its price target to $185 from $187 while keeping a Buy rating, updating models after first-quarter results with a focus on activity pace and efficiency gains.
Mizuho Financial Group, Inc.
Truist Financial Corp
Chord Energy CorpMultiple analyst rating changes with mixed price target adjustments; Morgan Stanley and Truist lowered targets, Mizuho raised.
Article cites decline in oil prices since U.S.-Iran MOU, with WTI now slightly above pre-conflict levels.