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Fly News Breaks for December 26, 2017
EMES
Dec 26, 2017 | 06:54 EDT
Shares of Emerge Energy serve as a "de facto call option against West Texas sand" given the company's balance sheet, Northern White exposure and lack of presence in the Permian, Piper Jaffray analyst John Watson tells investors in a research note. As such, the analyst sees Emerge outperforming on any delays in the Permian or failure to obtain permits by some mines. Watson says that at the very least, he expects delays for certain facilities in West Texas. The analyst, however, lowered his price target for Emerge shares to $8.75 from $9.50 and reiterates a Neutral rating on the name.
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