Friday November 20, 06:52 PM
STOCKS NEWS US-Hess Corp rises after Morgan Stanley upgrade
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Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1209 EST 20Nov2009-Hess Corp (NYSE: HES - news) up after Morgan Stanley (NYSE: MS - news) upgrade
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Shares in Hess Corp rose 2.3 percent to $58.89 after Morgan Stanley
raised the stock to 'overweight' from 'equal weight' and bumped its price
target to $75 from $65.
Morgan Stanley said it was upgrading its rating on value, the return of
exploration catalysts in the second half of next year and catch-up of shares in
oil sector companies left behind in 2009.
Hess was the only gainer in the CBOE oil index, a gauge of 11 big
oil companies with U.S.-listed shares. The index fell 1.4 percent.
UBS (Virt-X: UBSN.VX - news) upgraded Hess to 'buy' from 'neutral' on Tuesday.
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