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Fly News Breaks for March 11, 2016
ATW
Mar 11, 2016 | 07:27 EDT
Goldman analyst Waqar Syed downgraded Atwood Oceanics to Sell and lowered his price target to $5 from $5.75. The analyst expects a reduction in earnings power over the next three years as righs roll over from high priced contracts to lower spot rates and projects the company to be in default of its debt covenants by Q3 2017.
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