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Fly News Breaks for February 23, 2016
OXY, COP
Feb 23, 2016 | 08:23 EDT
Wells Fargo named ConocoPhillips (COP) as a top pick in the Integrateds and International E&P sectors. Wells Fargo thinks the company can generate free cash flow, although the firm warned that the company will outspend its cash flows this year. It raised its price target on the name to $40-$44 from $39-$43 citing its slightly higher 2018 EPS estimate. Wells removed Occidental Petroluem (OXY) from its Top Picks list citing valuation.
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