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Fly News Breaks for December 10, 2018
CPE
Dec 10, 2018 | 07:25 EDT
Seaport Global analyst Mike Kelly upgraded Callon Petroleum to Buy from Neutral and lowered its price target to $13 from $16. Kelly said the 33% drop in shares quarter-to-date makes places shares in line with Permian peers despite better-quality inventory and a higher organic growth outlook. The analyst notes Callon's strong execution, "stellar" 2-year organic growth outlook, and strong depth of inventory as reasons to own Callon shares.
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