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Fly News Breaks for September 10, 2019
QEP
Sep 10, 2019 | 07:03 EDT
BMO Capital analyst Philip Jungwirth resumed coverage of QEP Resources after a period of restriction with a Market Perform rating and a price target of $5. The analyst is positive on the management's "strong plan" to reverse its 9% oil production decline in 2019 with a 5% growth in 2020 while generating $120M in free cash flow and assuming an oil price of $55 per barrel. That said, Jungwirth states that investors "can be patient" in awaiting signs of the company's initial execution.
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