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Fly News Breaks for June 30, 2017
CRC
Jun 30, 2017 | 07:32 EDT
BofA/Merrill analyst Doug Leggate downgraded California Resources to Underperform and cut its price target to $10 from $22 following a reduction in the commodity price deck. The firm's commodity team lowered its price deck to $50 for Brent in 2017 and $52 in 2018 and the analyst believes $55 is a reasonable basis for US shale.
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