Hess (HES +2%) is upgraded to Buy from Neutral with a $65 target price, raised from $53, at...

|About: Hess Corporation (HES)|By:, SA News Editor

Hess (HES +2%) is upgraded to Buy from Neutral with a $65 target price, raised from $53, at Global Hunter, which represents 71% of the firm's pre-tax NAV estimate; HES is trading at a price-to-NAV of 58% vs. 72% median for peers. After some bumps in the road, including a poorly received capex boost, the firm believes HES' plan to scale back and refocus is taking shape.