UPDATE: Morgan Stanley Upgrades Cimarex Energy on Excellent Risk/Reward

In a report published Monday, Morgan Stanley analyst Drew Venker upgraded the rating on Cimarex Energy Co. (NYSE: XEC ) from Equal-Weight to Overweight, and raised the price target from $79.00 to $105.00. In the report, Morgan Stanley noted, “XEC is on the cusp of delineating a very large Permian