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Fly News Breaks for June 18, 2015
GDP
Jun 18, 2015 | 07:58 EDT
SunTrust believes that the recent selloff in Goodrich has been caused by false rumors that the company is in financial distress. The firm says that little has changed vis-a-vis the company's operations, while worries about its solvency and liquidity are unfounded. SunTrust cut its price target on the name to $4 from $7 to reflect increased leverage from a $100M second lien, a revised commodity deck, and a much more conservative 2016 activity forecast. However, it keeps a Buy rating on the shares.
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