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Fly News Breaks for January 22, 2016
SLB, GLNG
Jan 22, 2016 | 10:47 EDT
Cowen analyst Sam Margolin views Golar LNG's (GLNG) Memorandum of Understanding with Schlumberger (SLB) as a positive event. The deal shows confidence in Golar's technology and competitiveness in the current price environment at time when investors are losing confidence in the company, Margolin tells investors in a research note. The analyst keeps an Outperform rating on the name with an $80 price target. Golar shares are up 43%, or $5.12, to $17.06 in morning trading.
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