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Fly News Breaks for February 28, 2020
Feb 28, 2020 | 08:50 EDT
SunTrust analyst Neal Dingmann lowered the firm's price target on Continental Resources to $30 from $45 but keeps a Buy rating on the shares. The analyst notes that the company's "solid" Q4 earnings beat with improving core upstream performance was overshadowed by the management's forecast of flat expected oil volumes and capex budget in FY20, along with overall production in-line with price realizations. Dingmann believes however that the guidance was "conservative" and anticipates a more "notable" 2021 after a 2020 "transition".
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