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Piper Sandler lowered the firm’s price target on Civitas Resources (CIVI) to $70 from $73 and keeps an Overweight rating on the shares. Piper is confident Civitas can deliver a maintenance program in FY25 for roughly $1.95B, but a heavily first half 2024-weighted program is putting pressure on the production cadence into the first quarter of 2025, the analyst tells investors in a research note.
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