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Fly News Breaks for October 19, 2018
ROSE
Oct 19, 2018 | 07:27 EDT
SunTrust analyst Neal Dingmann initiated Rosehill Resources with a Buy rating and a price target of $10, citing the its position as a "Delaware Basin pure-play" with 11.5K acres offsetting the assets of some of its competitors. The analyst believes that the company's "10+ stacked pay zones" could produce a "material jump" in total inventory, and its current 31+ MMBOE production run-rate could see a strong year-end boost. Dingmann anticipates Rosehill Resources' 2019 output to rise over 40% and 2020 output to increase by another 23% as it continues to invest in its capacity, even though the company has had to raise equity to ensure "sufficient liquidity".
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