Petromagdalena Energy Downgraded To 'Sector Performer' By CIBC, PT Cut

CIBC World Markets Inc. analyst Ian Macqueen downgraded his rating on shares of  PetroMagdalena Energy Corp. (CVE:PMD) to "Sector Performer" from "Sector Outperformer" and lowered his price target to C$1.60 from C$2.Pacific Rubiales Energy (TSE:PRE) has offered to acquire all of the outstanding common shares of PetroMagdalena Energy for C$1.60/share in cash. This represents a about 38% premium on