There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Hess (HES) and Concho Resources (CXO) with bullish sentiments.
Hess (HES)
In a report released today, Pavel Molchanov from Raymond James reiterated a Buy rating on Hess, with a price target of $55.00. The company’s shares closed last Wednesday at $36.12.
According to TipRanks.com, Molchanov is a 4-star analyst with an average return of 6.4% and a 55.5% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Maxeon Solar Technologies, and Nextera Energy Partners.
Hess has an analyst consensus of Moderate Buy, with a price target consensus of $54.50.
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Concho Resources (CXO)
In a report released today, John Freeman from Raymond James reiterated a Buy rating on Concho Resources, with a price target of $64.00. The company’s shares closed last Wednesday at $41.41, close to its 52-week low of $33.13.
According to TipRanks.com, Freeman ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -22.1% and a 20.4% success rate. Freeman covers the Utilities sector, focusing on stocks such as Black Stone Minerals, Southwestern Energy, and Matador Resources.
Currently, the analyst consensus on Concho Resources is a Moderate Buy with an average price target of $64.47, implying a 51.9% upside from current levels. In a report issued on October 14, Siebert Williams Shank & Co also maintained a Buy rating on the stock with a $70.00 price target.
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