Occidental Petroleum Corp. Warrants (OXY.WS) are soaring 5.14% in pre-market trading on Tuesday, following a bullish price target adjustment from Mizuho Securities. The warrants, which expire on August 3, 2027, with a strike price of $22, are seeing increased investor interest amid positive analyst sentiment.

Mizuho Securities has raised its price target for Occidental Petroleum from $60 to $64 while maintaining an Outperform rating on the stock. This upgrade appears to be the primary driver behind the pre-market rally, as investors react positively to the more optimistic outlook from a major financial institution.

Despite Mizuho's bullish stance, it's worth noting that the overall analyst consensus on Occidental Petroleum remains at Hold, with a mean price target of $50.65, according to FactSet data. This discrepancy between Mizuho's target and the average analyst expectation suggests that there may be varying opinions on the company's future prospects among market experts.