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Fly News Breaks for January 7, 2019
PDCE
Jan 7, 2019 | 08:16 EDT
As reported earlier, BMO Capital analyst Phillip Jungwirth upgraded PDC Energy to Outperform from Market Perform while also lowering his price target to $50 from $55. The analyst states that although the price target change is driven by his view of lower commodity prices, he sees risk-reward on the stock as "attractive" given its discounted valuation. Jungwirth also cites PDC Energy's "above-average debt-adjusted growth" profile and believes that its production forecast is "mostly achievable".
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