National Fuel price target lowered to $99 from $102 at BofA

Group 1 - BofA has lowered the price target on National Fuel (NFG) to $99 from $102 while maintaining an Underperform rating on the shares [1] - There has been persistent bullish sentiment on natural gas for the past 18 months [1] - The firm anticipates rising risks of oversupply in 2027, which, along with lower price forecasts, leads to an average 12% reduction in price objectives among the gas-levered E&P group [1]