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Fly News Breaks for May 1, 2017
DRQ
May 1, 2017 | 05:32 EDT
Barclays analyst J. David Anderson downgraded Dril-Quip to Equal Weight saying he's no longer confident in an early 2018 offshore recovery. The analyst is also concerned that the company's earnings power in the 2019-2020 cycle will be "considerably less" than in the last cycle in 2010-2014. He cut his price target for the shares to $57 from $77.
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