Deutsche Bank Lifts Estiamtes and Price Target On US Integrated Oils (HES) (MUR) (CVX)

Deutsche Bank raised EPS estimates on US Integrated Oil companies across the board, but raised price targets on just 5 of the 9 that they cover.

The firm states, "we are moving into the multiple compression stage of the rising oil price cycle. The oils will outperform the market if oil keeps marching higher, but we now only see 10%-15% upside in oil prices & the group. Before rolling over, we may have a final speculative spike, which will be a fleeting positive for names with price targets upgraded, notably CVX, Hess and MUR."

Price Target Raised:

• Hess Corporation (NYSE: HES) (Buy) from $96 to $105
  
• Murphy Oil Corporation (NYSE: MUR) (Hold) from $80 to $85
  
• Suncor Energy Inc. (NYSE: SU) (Hold) from $47 to $48
  
• Canadian Natural Resources Limited (NYSE: CNQ) (Buy) from $55 to $58
  
• Chevron Corp. (NYSE: CVX) (Hold) from $105 to $115

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