The energy sector is under pressure, but some stocks within the space are poised for an upside breakout.
These names are cheap, are expected to rise more than 10% to their average price targets and are trading below where they have been historically.
Upside to average price target of more than 10%.
The U.S-listed shares, which are trading 5% below their 200-day moving average, have a forward price-to-earnings ratio of 8.6.
It's set to surge 26% to its average price target and is trading at a forward P/E of just 7.6.
Persons:
Baker Hughes, It's, Bank of America's Christopher Kuplent, Kuplent, underperformed, Murray Auchincloss, Auchincloss, Bernard Looney
Organizations:
Energy, APA, CNBC, Equinor ASA, Bank of America's, BP
Locations:
China, Norwegian, U.S, 2Q23