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Fly News Breaks for June 24, 2016
EMES
Jun 24, 2016 | 11:55 EDT
DA Davidson Sonny Randhawa said Emerge Energy Services' agreement to sell its fuel division to Sunoco for $179M is enough to weather the downturn but does little to improve the long-term viability of the company given it has the highest cost structure under coverage and has to compete in a low cost sand environment. The analyst said the recent move in shares more than reflects a better than expected price for the fuels business.. Randhaw reiterates his Underperform rating on Emerge Energy and raises his price target to $7 from $4.
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