Kiss of Death: JPMorgan upgraded global energy stocks overweight . Sector call here.
Dear generalists, put your seatbelts on. While we believe the sector is in a structural up-cycle and oil should normalize higher we expect prices – and by extension, energy equities to trade in a wider range, discounting an effective weighted average cost of capital. Upside risk to oil is $150 per barrel over the near to medium term. Higher for longer energy prices. to $180 per share from $185. Keeps buy rating.
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