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Fly News Breaks for November 17, 2016
ATW
Nov 17, 2016 | 05:37 EDT
Citi analyst Scott Gruber downgraded Atwood Oceanics to Sell citing covenant and balance sheet concerns. The company's current market capitalization is smaller than the balance outstanding on its revolver, challenging its ability to reduce the facility, Gruber tells investors in a research note. He cut his price target for Atwood shares to $5.50 from $10.
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