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Fly News Breaks for May 6, 2019
PE
May 6, 2019 | 08:41 EDT
As previously reported, Evercore ISI analyst Stephen Richardson upgraded Parsley Energy to Outperform and raised his price target to $27 from $24. The analyst says the stock is "inexpensive" and that the company's momentum has shifted in Q1 with enhanced "operational approach and consistency". Richardson is also positive on Parsley Energy's scale among the Permian pure plays after the market de-rating on the basin names amid concern over scale and the ability to "pivot to a more ratable growth" with free cash flow model.
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