Occidental Petroleum Corp (OXY US) Maintain Buy rating and raise TP to USD69.00 (from USD68.00). Our DCF-based TP of USD69.00 (raised from USD68.00) implies 23.1% upside and is equivalent to 6.7x our 2027e EBITDA, which is above the 5-year average of 5.3x for an improving balance sheet. Oxy trades at 5.1x its blended forward EV/EBITDA, an c11% discount to its 1Y average of 5.8x per Bloomberg. We believe Oxy's improving balance sheet remains underappreciated and expect the company to generate strong cash flo ...