UPDATE: Morgan Keegan Raises PT on Cimarex Energy to $95
Morgan Keegan reiterates its Outperform rating on Cimarex Energy (NYSE: XEC) and raises the price target on the company's shares from $75 to $95 in a research report out today.
In the report, Morgan Keegan writes, " Our timing has been admittedly difficult on this name. The stock has spent little time above our initiation price of about $94 per share in June 2011. However, we remain confident in XEC management and our view of the enormous resource potential ahead."
Shares of Cimarex Energy are currently trading at $79.49, down 2.13% from Friday's close.
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