Market Overview

UPDATE: BMO Capital Markets Upgrades Cimarex Energy to Outperform on Net Asset Value

Share:
Related XEC
Earnings Scheduled For August 8, 2017
Bear Market Grips Crude Stocks as U.S. Production Grows

BMO Capital Markets upgraded Cimarex Energy (NYSE: XEC) from Market Perform to Outperform and raised the price target from $70.00 to $85.00.

BMO Capital Markets commented, "We believe Cimarex offers a compelling valuation (even after the recent rally), trading at only 5.0x 2013 and 4.3x 2014 EV/EBITDAX, representing a 2.6x and 1.7x multiple turn discount to Permian peers. Further, our after-tax NAV indicates the shares are worth ~$80 with additional upside likely."

Cimarex Energy closed at $67.33 on Wednesday.

Latest Ratings for XEC

DateFirmActionFromTo
Oct 2017Morgan StanleyMaintainsOverweight
Oct 2017CitigroupMaintainsBuy
Oct 2017BarclaysMaintainsOverweight

View More Analyst Ratings for XEC
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Upgrades Analyst Ratings

 

Related Articles (XEC)

View Comments and Join the Discussion!
Loading...

Partner Center

Loading...