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Fly News Breaks for January 7, 2019
CLR
Jan 7, 2019 | 07:38 EDT
As reported earlier, BMO Capital analyst Phillip Jungwirth upgraded Continental Resources to Outperform from Market Perform while also lowering his price target to $55 from $60. The analyst states that although the price target change is driven by his view of lower commodity prices, he sees valuation on the stock as "attractive" relative to historical levels. Jungwirth also cites Continental Resources' "top-tier debt-adjusted production growth" profile, with his forecast rate of 17% topping the sector median of 9%.
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