UPDATE: Topeka Initiates Cimarex Energy with Hold Rating on Less Attractive Value Proposition

In a report published Wednesday, Topeka Capital Markets analyst Gabriele Sorbara initiated coverage on Cimarex Energy Co. (NYSE: XEC ) with a Hold rating and $80.00 price target. In the report, Sorbara noted, “XEC has a strong inventory of organically generated drilling locations across the Permian Basin and Mid-Continent region