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PDC Energy price target raised to $80 from $76 at JPMorgan

JPMorgan analyst Arun Jayaram raised the firm’s price target on PDC Energy to $80 from $76 and keeps an Overweight rating on the shares. The analyst raised the target after marking to market for recent strip pricing. The firm is modeling a Q1 miss for PDC, with its EBITDA estimate 8% below the Street.

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