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Fly News Breaks for August 17, 2016
ANW
Aug 17, 2016 | 11:28 EDT
Jefferies analyst Douglas Mavrinac raised his price target for Aegean Marine Petroleum to $16 from $14 after the company said it will repurchase 11.3M shares from founder Dimitris Melissanidis at $8.81 per share. The "huge" repurchase "significantly increases" Aegean's earnings going forward and could position the company to pursue new opportunities, Mavrinac tells investors in a research note. He keeps a Buy rating on the shares.
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