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Fly News Breaks for December 27, 2018
HK
Dec 27, 2018 | 07:46 EDT
Imperial Capital analyst Jason Wangler cut his price target on Halcon Resource shares to $3 from $6 after the company's closure of its water infrastructure divestiture and release of 2019 commentary, noting that the company's cash infusion comes at a good time and its plan to drop a rig in Q1 should help preserve cash and liquidity during a period of low oil prices. The analyst, who said Halcon is well positioned in terms of hedges at a time when "hedge books are starting to matter again," keeps an Outperform rating on the shares.
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