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UPDATE: JP Morgan Raises PT to $79 on Cimarex Energy Following Q4 Earnings

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JP Morgan maintained Cimarex Energy (NYSE: XEC) with an Overweight rating and raised the price target from $72.00 to $79.00.

JP Morgan noted, "We are increasing our Dec-13 price target to $79/share from $72/share. We incorporated the new Hz Wolfcamp type curve and increased the drilling pace in the Cana-Woodford to match company guidance. Previously, we were conservative on our drilling schedule assumptions for the Cana-Woodford. Our price target for XEC represents 100% of our YE13 NYMEX NAV, in line with where the group is trading relative to current NYMEX NAV."

Cimarex Energy closed at $67.33 on Wednesday.

Latest Ratings for XEC

DateFirmActionFromTo
Nov 2020Morgan StanleyMaintainsOverweight
Oct 2020Raymond JamesUpgradesMarket PerformOutperform
Oct 2020Truist SecuritiesUpgradesHoldBuy

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Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
HYMCBMO CapitalInitiates Coverage On
DEMorgan StanleyMaintains335.0
SBNYRaymond JamesMaintains138.0
CORTHC Wainwright & Co.Maintains32.0
CYBBFCitigroupDowngrades
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