Barclays has revised its price target for BKV Corp. (BKV, Financial) from $30 to $28 while maintaining an Overweight rating on the stock. This adjustment is part of the bank's first-quarter outlook for firms in the integrated oil and exploration and production sectors.
The upcoming quarter is expected to be shaped significantly by the broader macroeconomic conditions. Companies that can boast low break-even points and robust balance sheets are likely to fare better in a market environment characterized by lower oil prices.
In line with its updated forecast, Barclays has also adjusted its oil price projections for the upcoming years. The bank now anticipates crude prices to average $60 in 2025 and $65 in 2026, reflecting ongoing uncertainties in the oil market.
