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Fly News Breaks for September 7, 2018
XEC
Sep 7, 2018 | 07:03 EDT
As reported earlier, SunTrust analyst Neal Dingmann downgraded Cimarex Energy to Hold from Buy and lowered his price target to $94 from $130, saying the company's "conservative" operating nature requires investors to assimilate to "lumpier" production results. The analyst is also concerned about the company's heavy exposure to the Permian basin differential issues. Dingmann contends that while the stock price has fallen 32% year-to-date, it still trades at a premium to its peer group on enterprise value to expected EBITDA basis.
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