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Murphy Oil Stock Surges Nearly 8% on Analyst Price Target Hike

Murphy Oil Stock Surges Nearly 8% on Analyst Price Target Hike

Author:

Global Cryptocurrency

Published:

2025-10-13 23:55:01

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BTCCSquare news:

Murphy Oil (MUR) shares soared nearly 8% Monday, outpacing the S&P 500's 1.6% gain, after Wells Fargo analyst Roger Read raised his price target to $28 from $26. The bullish MOVE marks the second target increase in as many trading days, though Read maintained a cautious 'equal weight' rating.

Operational Optimism drove the adjustment, with Read citing expectations for strong Q3 results ahead of the October 30 earnings report. Concerns linger about 2026 guidance, but the stock benefited from broader sector momentum - Canadian firm BMO had similarly boosted its target to $30 last Thursday as part of an industry-wide reevaluation of US oil equities.

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