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Fly News Breaks for June 5, 2017
EC
Jun 5, 2017 | 06:08 EDT
HSBC analyst Lily Yang upgraded Ecopetrol to Buy and raised her price target for the shares to $11 from $4. The market is mispricing the company's downstream and midstream assets, Yang tells investors in a research note.The "long-awaited stabilization" of the Cartagena refinery, ramp-up of the Bioenergy ethanol plant and improved sales mix should drive positive cash flows in downstream for the first time in eight years, the analyst contends.
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