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Fly News Breaks for January 9, 2020
XEC
Jan 9, 2020 | 08:01 EDT
JPMorgan analyst Arun Jayaram upgraded Cimarex Energy to Overweight from Neutral with a price target of $70, up from $62. The analyst says the shares are discounted based on his 2020 and 2021 estimates. Further, he expects Cimarex's capital efficiency will improve on the back of "peer-leading" oil well productivity in the Permian and tweaks to well design that are poised to support lower well costs in 2020.
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