By: Benzinga
December 06, 2012 at 12:11 PM EST
UPDATE: BMO Capital Markets Downgrades Plains Exploration & Production to Market Perform Following Deal
BMO Capital Markets reduced its rating on Plains Exploration & Production (NYSE: PXP ) from Outperform to Market Perform with a reiterated $45 price target. BMO Capital Markets commented, "We are lowering our rating on Plains Exploration to Market Perform from Outperform following the announced merger agreement with Freeport-McMoRan.
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