UPDATE - Canaccord Genuity Upgraded Cimarex Energy (XEC) to Buy; Growth Set to Accelerate - Top Permian Idea
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Price: $87.20 --0%
Rating Summary:
25 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 10 | New: 18
Rating Summary:
25 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 10 | New: 18
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UPDATE - Canaccord Genuity upgraded Cimarex Energy (NYSE: XEC) from Hold to Buy, price target maintained at $84.00.
Analyst, John Gerdes, said, "We are raising XEC to BUY and maintaining our target at $84 as a stronger shift to oil offsets higher operating expense. XEC overreacted to the upside following Q4 results, in our view. Since then, the stock has declined over 20% while Permian peers have fallen only ~10%. We now see ~10% greater upside versus Permian peers as Cimarex offers a similar CFPS growth outlook (’12-’14E) though trades at a ~20% discount (’12E EBITDA)."
To see more ratings on XEC, Click Here
Analyst, John Gerdes, said, "We are raising XEC to BUY and maintaining our target at $84 as a stronger shift to oil offsets higher operating expense. XEC overreacted to the upside following Q4 results, in our view. Since then, the stock has declined over 20% while Permian peers have fallen only ~10%. We now see ~10% greater upside versus Permian peers as Cimarex offers a similar CFPS growth outlook (’12-’14E) though trades at a ~20% discount (’12E EBITDA)."
To see more ratings on XEC, Click Here
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