Cimarex Energy (XEC) PT Raised to $158 at Wunderlich
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Price: $87.20 --0%
Rating Summary:
26 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
26 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Wunderlich Securities maintained a Buy rating on Cimarex Energy (NYSE: XEC) and raised its price target to $158.00 (from $135.00).
Analyst Abhishek Sinha said, "We believe Cimarex (XEC) is at its peak of transition. The stock is getting increasingly rich with near-term catalysts and potential upside from its well optimization efforts and delineation of the Wolfcamp zones. Our price target increases from $135 to $158 as we account for increased rig activity, deeper unproven reserves inventory, and updated proven reserve estimates. However, risks to our NAV are highly skewed to the upside as our model doesn't currently capture XEC's efficiencies from longer laterals in the Permian, downspacing potential, and additional zones in the Wolfcamp and upsized frac completions in the Mid Continent. The company also retains additional upside from the presence of the Wolfcamp in its New Mexico acreage and the stacked (Meramec) play in the Mid Continent."
For an analyst ratings summary and ratings history on Cimarex Energy click here. For more ratings news on Cimarex Energy click here.
Shares of Cimarex Energy closed at $111.89 yesterday.
Analyst Abhishek Sinha said, "We believe Cimarex (XEC) is at its peak of transition. The stock is getting increasingly rich with near-term catalysts and potential upside from its well optimization efforts and delineation of the Wolfcamp zones. Our price target increases from $135 to $158 as we account for increased rig activity, deeper unproven reserves inventory, and updated proven reserve estimates. However, risks to our NAV are highly skewed to the upside as our model doesn't currently capture XEC's efficiencies from longer laterals in the Permian, downspacing potential, and additional zones in the Wolfcamp and upsized frac completions in the Mid Continent. The company also retains additional upside from the presence of the Wolfcamp in its New Mexico acreage and the stacked (Meramec) play in the Mid Continent."
For an analyst ratings summary and ratings history on Cimarex Energy click here. For more ratings news on Cimarex Energy click here.
Shares of Cimarex Energy closed at $111.89 yesterday.
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