Freedom Broker analyst Sergey Pigarev downgraded PrimeEnergy to Sell from Hold with a price target of $160, down from $176. The company's Q1 results brought weaker revenue and earnings due to Permian Basin natural gas takeaway constraints, the analyst tells investors in a research note. The firm cites "weaker" natural gas market conditions and PrimeEnergy's reduced production outlook for the downgrade.
