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Fly News Breaks for September 11, 2018
BRMR, ECR
Sep 11, 2018 | 04:59 EDT
Goldman Sachs analyst John Nelson upgraded Eclipse Resources (ECR) to Neutral with a $1.50 price target. The analyst cites valuation for the upgrade saying the 17% upside to his 12-month price target is now more in line with Exploration and Production peers. He believes Eclipse's agreement to merge with Blue Ridge Mountain Resources (BRMR) will improve its scale and dilute average well-level returns.
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