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Fly News Breaks for September 27, 2017
FI
Sep 27, 2017 | 13:11 EDT
As previously reported JPMorgan downgraded Frank's International to Underweight from Neutral and cut its price target to $5 from $7. Analyst Sean Meakim said shares have benefited recently from a "catch up" trade in oil service providers and believes the market is likely to be more skeptical of consensus expectations. Meakim is also cautious on Frank's due to the near continuous rotation of leadership and is not convinced the outlook for deepwater has changed materially.