Goldman Said Buy Hess Corp (HES) On Yesterday's Weakness
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Goldman Sachs is telling clients to buy Hess Corporation (NYSE: HES) on yesterday's 8% sell-off, versus 1.6% downside in Energy Select Sector SPDR (NYSE: XLE), which was related to reports about the potential for ExxonMoble to sublet its West Polaris rig to Petrobras.
Goldman said the sell-off is considerably overdone and they are buyers on the dip.
The firm is maintaining their Buy rating and six-month price target of $85.
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