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Fly News Breaks for July 17, 2019
CDEV
Jul 17, 2019 | 04:48 EDT
Imperial Capital analyst Irene Haas downgraded Centennial Resource Development to In-Line from Outperform and lowered her price target for the shares to $8 from $19. The analyst has a "negative view" on Gulf Coast natural gas and natural gas liquid prices and believes that if weak prices linger, Centennial Resource's outspend could increase. Haas adds that while the company's balance sheet is "strong," she has concerns about the prolonged effect of weak natural gas and NGL pricing on its debt metrics.
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