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Fly News Breaks for November 2, 2016
CPN
Nov 2, 2016 | 05:56 EDT
UBS analyst Julien Dumoulin-Smith downgraded Calpine to Neutral after lowering his estimates to reflect management's implied guidance. How the company will use its excess cash remains a key question, Dumoulin-Smith tells investors in a post-earnings research note. He believes consensus estimates have downside risk and cut his price target for the shares to $13 from $15.
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