EOG - EOG upgraded to strong buy at Raymond James - sees 40%+ upside

EOG (EOG) was upgraded to "strong buy" at Raymond James Tuesday, as the bank sees over 40% upside to its $170 price target. The bank likes management's newly introduced shareholder return framework are sees recent weakness as a buying opportunity. On RayJay's numbers, EOG (EOG) will payout a 9% yield in 2022, and build an additional ~$1b in net cash by year end. With shares only rising 4% since Russia's invasion of Ukraine, EOG (EOG) has underperformed peers. Strong Q1 results, paired with rising commodity prices, should buoy shares ahead of what are likely to be very strong Q2 earnings.

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EOG upgraded to "strong buy" at Raymond James - sees 40%+ upside