UBS Maintains a 'Buy' on Occidental Petroleum (OXY); Boosting Estimates After 2nd Straight Beat

UBS maintains a 'Buy' on Occidental Petroleum (NYSE: OXY) price target raised from $110 to $114.

UBS analyst says, "We are revising our 2012-13 EPS/CFPS to $7.95/$15.40 and $7.80/$15.45 from $8.35/$14.05 and $8.55/$14.50 on higher production and DD&A expenses, as well as lower current taxes. We forecast 2012-13 production growth of 6% per annum, in the middle of its targeted long term growth of 5-8% per annum."

For an analyst ratings summary and ratings history on Occidental Petroleum click here. For more ratings news on Occidental Petroleum click here.

Shares of Occidental Petroleum closed at $103.46 yesterday.

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