Fly News Breaks for October 10, 2019
Oct 10, 2019 | 07:37 EDT
As previously reported, Seaport Global analyst Mike Kelly downgraded Comstock Resources to Neutral from Buy. The rating change was among 13 downgrades made in the E&P sector by Kelly, who contends that "the 2020 oil macro set up is a mess." On Comstock specifically, he sees limited valuation upside, especially given the company's expected FY20 net/debt EBITDA ratio of 3.5 times.
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