Cimarex Energy (XEC) PT Raised to $155 at Stifel
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Stifel analyst Daniel Guffey raised his NAV and his price target on Buy-rated Cimarex Energy (NYSE: XEC) to $155.00 (from $142.00).
Guffey commented, "We are raising our NAV and target price 17% and 9% to $166 (Exhibit 1) and $155/share based on continued productivity gains across the company’s Delaware and Anadarko Basin assets. We believe XEC’s strong recent well performance throughout its high-quality asset base, combined with its significant operational and financial flexibility, will translate into above-consensus 2017 and 2018 growth. As such, XEC remains one our top picks."
Shares of Cimarex Energy closed at $129.13 yesterday.
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