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On Wednesday, Mizuho Securities updated its valuation model. hess corporation . (NYSE:), the price target for the energy company's stock rose slightly as a result. A new price target was set at $205.00, up from the previous $200.00, but the company chose to maintain a “neutral” rating on the stock.
The adjustment comes after analysts revised Hess Corporation's year-end 2023 reserves, resulting in a standalone net asset value (NAV) of $172 per share, down from the original estimate of $170. There was a slight increase. per share. This revised NAV is part of the rationale behind the new price target.
The target price is also influenced by the updated NAV-based target price. chevron Corp. (NYSE:NYSE:) is priced at $200.00 and the exchange ratio is set at 1.025. The final outcome of the Hess deal depends on the outcome of an ongoing arbitration process between Chevron and its other partners in Guyana. exxon mobil Ltd. (NYSE:NYSE:).
The company expects the transaction to proceed, but may be delayed beyond the original mid-2024 completion schedule. In the analyst's base case, he assumes a completion date for the transaction of September 30, 2024.
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