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Fly News Breaks for December 1, 2016
EOG
Dec 1, 2016 | 04:58 EDT
Stifel analyst Michael Scialla upgraded EOG Resources to Buy with a $120 price target. The OPEC agreement to cut production resulted in Stifel raising its 2017 oil price forecast to $55/bbl from $50bbl. Scialla had been concerned about EOG's lack of hedges and downside oil price risk prior to the announcement but now sees reduced risk and strong long-term growth.
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