KeyBanc analyst Tim Rezvan downgraded Denbury (DEN) to Sector Weight from Overweight without a price target. The analyst believes the acquisition of Denbury by Exxon Mobil (XOM) will close in Q4. The firm does not expect to see another bidder come over the top.
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Read More on DEN:
- Third Point buys Nvidia, exits Salesforce in Q2
- Denbury price target raised to $93 from $86 at Stifel
- Denbury says prior guidance should no longer be relied upon
- Denbury reports Q2 EPS $1.25, consensus $1.25
- Denbury downgraded to Equalweight from Overweight at Capital One
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