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Bruce Jefferson

JPMorgan Downgrades Cimarex As Oil Growth Doubt Lingers

Petroleum and natural gas production company, Cimarex Energy Co. XEC experienced a fall in production, as prices were hindered by local price differentials. The company's Q2 EPS missed estimates Tuesday afternoon.

JPMorgan analyst Arun Jayaram downgraded Cimarex from Overweight to Neutral and lowered the price target from $125 to $110. Source

Downside potential still holds. 

$XEC, Cimarex Energy Co / D

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