CIBC Upgrades Parex Resources To 'Sector Outperformer' In Anticipation Of Positive Exploration Well Results

CIBC World Markets Inc. upgraded its rating on shares of Parex Resources Inc. (TSE:PXT) to "Sector Outperformer" from "Sector Performer" on expectations of positive news flow and an incorporation of additional production volumes in its model.The Canadian oil and natural gas explorer issued an operational update ahead of its AGM on May 23. After two negative releases and two share price