Deutsche Bank Upgrades Occidental Petroleum (OXY) to Buy

Deutsche Bank upgraded Occidental Petroleum (NYSE: OXY) from Hold to Buy with a price target of $90.00 (from $81.00).

Analyst Ryan Todd said, "Given the relatively cautious medium-term oil price outlook, our preference remains largely for names whose combination of asset quality and balance sheet allow them to support moderate, capital efficient growth within a moderate oil price environment. We upgrade OXY to BUY and downgrade HES to HOLD."

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 $78.19 yesterday.

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