Wolfe Research Downgrades Civitas Resources (CIVI) to Peerperform, 'we no longer see it trading on standalone fundamentals'

Wolfe Research analyst Doug Leggate downgraded Civitas Resources (NYSE: CIVI) from Outperform to Peerperform.

The analyst comments "We downgrade CIVI to Peer Perform as we no longer see it trading on standalone fundamentals given its plans to merge with SM Energy where its valuation will be influenced by a deal conversion price where each share of CIVI will be converted into 1.45 shares of SM."

For an analyst ratings summary and ratings history on Civitas Resources click here. For more ratings news on Civitas Resources click here.

Shares of Civitas Resources closed at $28.83 yesterday.

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