As reported earlier, SunTrust analyst Neal Dingmann upgraded Centennial Resource Development (CDEV) to Buy from Hold and raised his price target to $25 from $20. The analyst cites the company's "operational strides" to ensure that its 2020 production goal is achieved while also noting its "pricing diversification" efforts through its latest crude agreement with Exxon Mobil (XOM) as well as its position of an "early mover" among Permian E&Ps on the gas side. Dingmann advises that investors take advantage of the current "opportune entry point" given Centennial Resource Development's "below peer valuation".
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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - U... To see the rest of the story go to thefly.com. See Story Here