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Fly News Breaks for June 24, 2016
EMES
Jun 24, 2016 | 07:08 EDT
Seaport Global analysts led by Mark Brown upgraded Emerge Energy to Buy with a $14 price target following the announced sale of its Fuels business to Sunoco LP. The analyst believes the sale removes an overhang and further opens up the possibility of a takeout scenario. The remaining company will be a pure-play sand supplier positioned either as a takeout candidate or able to go it alone and resume cash distributions by 2019 in a recovering market, the analyst wrote in a research note.
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