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Fly News Breaks for January 21, 2020
CDEV
Jan 21, 2020 | 07:55 EDT
SunTrust analyst Neal Dingmann downgraded Centennial Resource Development to Hold from Buy with a price target of $5, down from $6. The analyst cites the company's challenge of balancing a "relatively immature asset base" with its efforts to remain below 30% net debt to capital given its outspend levels. Dingmann adds that Centennial Resource's projected 5% growth in 2020-21 will make it difficult to compete for investment capital in the smid-cap E&P space.
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