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Re: eFinanceMarkets post# 282

Friday, 05/05/2017 5:50:23 PM

Friday, May 05, 2017 5:50:23 PM

Post# of 306
Hess upgraded at Wells Fargo on growth, operating costs, balance sheet

Hess (HES +2.4%) is higher after Wells Fargo upgrades shares to Outperform from Market Perform with a $57-$59 price target, eyeing improved cash generation and free cash flow as well as the potential for higher h2 production guidance.

Wells likes the company's growth potential, operating cost performance, balance sheet strength, exploration update and current discounted valuation.

The firm also expects HES to grow at a compound annual rate of 4.9% through 2019.
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