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Fly News Breaks for December 18, 2019
WPX
Dec 18, 2019 | 07:54 EDT
JPMorgan analyst Michael Glick raised his price target for WPX Energy to $17 from $15 after taking a closer look at the company's $2.5B merger with Felix. The Felix asset is "clearly accretive" at the asset level as well in terms of asset intensity/capital efficiency, oil cuts, margins and base decline rates, Glick tells investors in a research note. The analyst keeps an Overweight rating on WPX shares.
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