Morgan Stanley on Thursday lowered the price target for Saudi state-owned oil giant Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, to 27.40 Saudi riyals from 28.40 riyals and kept its rating at equal weight.
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Equities
Moody's Changes Italgas Outlook to Positive Following Strategic Plan Announcement
Moody's on Thursday affirmed its long-term issuer rating on Italgas (IG.MI) at Baa2 and changed the outlook to positive from stable.The outlook revision reflects Moody's expectation that the Italian gas distributor will maintain its solid operational performance after announcing its strategic plan for the 2026 to 2032 period. The company's financial profile is expected to continue strengthening in the coming years and may lead to a rating upgrade, Moody's added.The rating affirmation, meanwhile, is supported by the "limited complexity" in Italgas' new strategic plan, alongside its gas distribution focus in Italy and the country's regulatory framework, among others.
$IG.MI
Equities
Truist Securities Adjusts Price Target on Devon Energy to $61 From $66
Devon Energy (DVN) has an average rating of buy and mean price target of $59.92, according to analysts polled by FactSet.Price: $42.41, Change: $-0.91, Percent Change: -2.09%
$DVN
Equities
Mizuho Adjusts Price Target on Exxon Mobil to $170 From $175
Exxon Mobil (XOM) has an average rating of overweight and mean price target of $167.10, according to analysts polled by FactSet.
$XOM