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Fly News Breaks for June 13, 2016
EMES
Jun 13, 2016 | 09:20 EDT
DA Davidson analyst Sonny Randhawa double downgraded Emerge Energy Services to Underperform from Buy with an unchanged price target of $5. The frac sand names are trading "well ahead of fundamentals for a growing industry that is still in flux," Randhawa tells investors in a research note. He views current valuations and estimates for the group as "devoid of reality." Shares of Emerge are down 8% to $9.61 in pre-market trading.
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