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Fly News Breaks for August 26, 2019
AXAS
Aug 26, 2019 | 06:36 EDT
Ladenburg Thalmann analyst Michael Schmitz downgraded Abraxas Petroleum to Neutral from Buy and lowered his price target for the shares to $1 from $2. Reduced estimated free cash flow resulting from lower projected commodity prices, combined with uncertainty resulting from the escalation of the trade war, will be additional headwinds for the Exploration and Production group, Schmitz tells investors in a research note.
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