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Fly News Breaks for November 6, 2018
PDCE
Nov 6, 2018 | 21:11 EDT
MUFG analyst Michael McAllister lowered his price target on PDC Energy to $76 after its Q3 earnings, revenues, and production came in short of expectations. The analyst cites "high line pressures and plant downtime in the Wattenberg" leading the management to lower its FY18 production guidance back down to 110 MBOE/d from 112 MBOE/d. Longer term, McAllister keeps his Overweight rating on PDC Energy, stating that the "company has built a strong position in the core part of the Wattenberg field in the DJ Basin and continues to impress operationally".
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