November 30, 2018 / 1:10 PM / a year ago

BUZZ-Cowen says won't see a repeat of 2014 oil 'carnage'

** Cowen says markets will not witness repeat of 2014 oil slump when crude dropped from $100/barrel to $30

** Brent crude has fallen ~32 pct since hitting a high of $86.74 in Oct. 3, largely due to record output from U.S, Russia and Saudi Arabia; OPEC and Russia are set to meet on Dec. 6 to rein in the glut

** Among U.S. oil and gas producers, Cowen says it favors firms with “highly visible” free cash generation through 2020 in a $50-$55/barrel world

** Starts coverage of 20 producers

** Gives “outperform” to Anadarko Petroleum, Centennial Resource Development Inc, Callon Petroleum Co, Noble Energy and Pioneer Natural Resources , among others

** Gives “market perform” ratings to Apache Corp, California Resources, Devon Energy and Encana Corp, among others

** Noble, Parsley Energy, Pioneer, and WPX Energy are Cowen’s top picks heading into 2019 (Reporting by John Benny in Bengaluru)

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