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Fly News Breaks for May 20, 2015
XEC
May 20, 2015 | 10:05 EDT
As previously reported, KeyBanc upgraded Cimarex Energy to Overweight from Sector Weight with a $135 price target. The firm said last night's $700M equity raise to pursue a more aggressive D&C profile increases confidence in core Permian returns. KeyBanc said added rigs will be 8% accretive to 2016 estimated DCPS.
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