Bank of America Merrill Lynch analyst Doug Leggate issues $80 price target for Hess Corp. with risk factors

Bank of America Merrill Lynch analyst Doug Leggate issues $80 price target for Hess Corp. with risk factors The document is a routine equity research note providing a price objective and risk commentary for Hess Corp. It contains no allegations, financial misconduct, or links to high‑profile political or intelligence actors. The only named individual is the analyst, whose certification is standard. Consequently, it offers negligible investigative value. Key insights: Price target of $80 per share for Hess Corp. based on 5‑year outlook and 5.5x DACF multiple.; Assumes WTI at $67.50 and Brent at $70, plus $10 per share from Liza offshore Guyana project.; Identified risks: oil price environment, drilling slowdowns, and news flow on exploration activities.