UBS maintains Buy rating and $173 price target on Hess

UBS reiterates Buy rating and $173 price target on Hess (NYSE:HES) before Q2 2025 earnings release. Potential final report as independent entity pending Chevron merger outcome. Analysts expect strong operational performance, positive investor sentiment, and favorable arbitration ruling. Forecast Q3 2025 transaction close with critical catalyst in arbitration decision. Firm confident in deal’s strategic merits and asset quality.