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Fly News Breaks for February 24, 2016
CJES
Feb 24, 2016 | 06:49 EDT
Citi analyst Scott Gruber downgraded C&J Energy Services to Neutral saying the company's falling market cap makes a potential equity offering "more difficult to absorb." The analyst thinks C&J needs $100M in new equity to satisfy liquidity needs through the downcycle. He cut his price target for the shares to $2 from $5.
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