Deutsche Bank Starts Hess Corp. (HES) at Buy

Deutsche Bank initiated coverage on Hess Corp. (NYSE: HES) with a Buy rating and a price target of $112.00.

Analyst Ryan Todd said, "Hess’ aggressive restructuring has been a clear win for the company, outperforming the XLE/EPX by 20%/25% since January 2012. Although we acknowledge that the tailwind of restructuring is in the later innings (only the MLP of the midstream assets remains in 2015), we believe that the ongoing story is likely more sustainable than the market expects, with significant growth in FCF from 2015 forward, and outstanding flexibility to accelerate in two premier assets (Bakken, Utica) or return additional cash to shareholders."

For an analyst ratings summary and ratings history on Hess Corp. click here. For more ratings news on Hess Corp. click here.

Shares of Hess Corp. closed at $94.10 yesterday.

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