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Fly News Breaks for June 15, 2018
CDEV
Jun 15, 2018 | 09:22 EDT
As reported earlier, SunTrust analyst Neal Dingmann initiated Centennial Resource Development with a Hold rating and a price target of $20. The analyst says the company has a strong management team along with a solid 80K acre Permian basin position where it can grow output by about 93% this year and 40% in the next year. Dingmann adds that his Neutral stance is based on his caution in terms of the marco prices and the potentially impactful Permian differentials given the company's minimal hedge position.
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