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Fly News Breaks for September 28, 2018
RDS.A, CVEO
Sep 28, 2018 | 14:09 EDT
Noting that several reports over the last few days indicate a positive decision about a Shell-led (RDS.A) LNG project in Western Canada could be announced as soon as next week, Stifel analyst Stephen Gengaro reiterated his Buy rating and $5 price target on shares of Civeo (CVEO), for whom he has previously said the Shell project could be a "game-changer." If the LNG project receives a positive final investment decision, he believes Civeo will benefit via its ownership of Sitka Lodge, its 40% owned joint venture with Bird Construction and the potential for a long-term project for Civeo to provide ancillary services, said Gengaro.
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