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Fly News Breaks for May 8, 2018
May 8, 2018 | 06:50 EDT
Citi analyst Robert Morris last night downgraded Continental Resources to Neutral from Buy while raising his price target for the shares to $65 from $62. The analyst cites valuation for the downgrade with the shares up over 20% year-to-date. Longer term, the analyst remains constructive given Continental's "above-average per-share debt-adjusted cash flow growth," its low operating cost structure and exploration upside.
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