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Fly News Breaks for October 23, 2019
LBRT
Oct 23, 2019 | 06:12 EDT
BofA/Merrill analyst Chase Mulvehill initiated coverage of Liberty Oilfield Services with a Neutral rating and $10 price target. The analyst notes that while the management has been able to generate "top-tier returns", he sees the pressure pumping market facing a "bumpy" back half of 2019 and 2020. Mulvehill adds that the company's "steadfast commitment" to its employees will hamper profitability as Liberty Oilfield Services will likely be "overstaffed" over the next 2-3 quarters.
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