Credit Suisse Energy Analysts Upgrade E&P Sector To Overweight, See ‘Attractive’ Entry Point

One of the biggest debates on Wall Street right now is whether or not a recovery is imminent in the battered oil & gas industry. In a brand new report, Credit Suisse analyst Mark Lear says that enough is enough and upgrades the oil & gas exploration and production (E&P) sector to Overweight.OverviewWhile OPEC seems stubborn about its production levels, Lear believes that a reduction in non-OPEC international production will eventually provide an opportunity for U.S. producers to get back in the game.The current environment has forced many E&Ps to focus on strengthening their balance sheets. When commodity prices start to recover, the companies with the strongest assets will be able to accelerate the most.Although Lear believes that investors should be selective in choosing E&P investments, he feels that there are a handful of names that have limited downside with WTI prices at around $60/bbl and “decent” upside with WTI prices in the $70’s/bbl.

via EOG Resources, Inc. (NYSE:EOG), (EPE) – Credit Suisse Energy Analysts Upgrade E&P Sector To Overweight, See ‘Attractive’ Entry Point | Benzinga.

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