Murphy Oil (MUR) Stock Surges 8% on Raised Price Targets

Murphy Oil’s (MUR) stock soared almost 8% on Monday after Wells Fargo analyst Roger Read raised the price target to $28 per share from $26. Despite the increase, Read maintained a hold recommendation due to concerns about the company’s 2026 guidance. This follows a similar move by Bank of Nova Scotia, which raised its price target to $30 per share.