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Fly News Breaks for July 11, 2019
Jul 11, 2019 | 04:56 EDT
BMO Capital analyst Phillip Jungwirth downgraded PDC Energy to Market Perform from Outperform and lowered his price target for the shares to $38 from $42. The analyst expects negative revisions to consensus 2020 oil and capex estimates and points out that PDC Energy's natural gas liquids exposure is greater than peers. These headwinds, along with core inventory depth concerns, will limit future share price outperformance, Jungwirth tells investors in a research note.
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