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Fly News Breaks for December 6, 2018
REN, XEC
Dec 6, 2018 | 08:29 EDT
As reported earlier, MKM Partners analyst John Gerdes initiated Cimarex Energy (XEC) with a Buy rating and a price target of $108. The analyst cites his Q4 production forecast of 246MBOE/d coming at the higher end of its guidance of 238-247 MBOE/d, saying that its acquisition of Resolute Energy (REN) is "impeccably complementary". Gerdes also cites the positive impact of Cimarex Energy's Delaware Basin development.
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