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Fly News Breaks for June 18, 2019
CJ, FRAC
Jun 18, 2019 | 08:56 EDT
Stifel analyst Stephen Gengaro said he sees Keane Group's (FRAC) merger of equals deal with C&J Energy Services (CJ) as a "distinct positive" for Keane, which can benefit from a greater presence in key U.S. basins, economies of scale, a deeper customer portfolio and a stronger financial profile. Gengaro, who has previously contended that consolidation in U.S. pressure pumping is "likely and needed," reiterated a Buy rating and $15 price target on Keane Group shares.
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