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Fly News Breaks for May 4, 2018
CLR
May 4, 2018 | 09:46 EDT
RBC Capital analyst Brad Heffern raised his price target on Continental Resources to $71 and kept his Outperform rating, saying that while the company's volumes were distorted by the adverse weather conditions in Q1, the cash flow generation remains impressive. The analyst expects free cash flows to continue to "come through in a big way" given the company's " unhedged oil weighted production base" capturing the rising oil prices. Heffern further anticipates free cash flow increase to be used for debt reduction first and activity acceleration second.
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