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Fly News Breaks for March 22, 2016
EPE
Mar 22, 2016 | 06:29 EDT
BofA/Merrill downgraded EP Energy to Underperform and lowered its price target to $3 from $3.50. The firm said EP Energy's planned sale of Haynesville for $420mm is not a surprise and balance sheet headwinds remain. The firm continues to see leverage as a headwind and does not see how the company can live within its cash flow while production declines in 2016.
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