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Fly News Breaks for September 4, 2019
CDEV
Sep 4, 2019 | 07:39 EDT
As previously reported, MKM Partners analyst John Gerdes started Centennial Resource Development with a Buy rating and $7 price target. The analyst is positive on the company's "Delaware Basin-centric" business model, setting his 2019 production forecast of 77.4 MMBOE/d with 57% oil component, which is above its guided range of 68-75 MMBOE/d, even though he notes its 20% higher capital intensity that is in part offset by higher cash margin.
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