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Fly News Breaks for July 31, 2018
DRQ
Jul 31, 2018 | 05:40 EDT
Barclays analyst J David Anderson downgraded Dril-Quip to Underweight with an unchanged price target of $41. The stock's current valuation is difficult to justify as the company's "earnings trough" looks poised to extend until 2021, Anderson tells investors in a research note. Further, he sees limited free cash flow growth and a slower offshore recovery for Dril-Quip's business.
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