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Fly News Breaks for July 17, 2015
NOV
Jul 17, 2015 | 05:36 EDT
UBS analyst Angie Sedita downgraded National Oilwell Varco to Sell saying the offshore drilling markets will remain in a state of over-capacity over the next three-to-four years. The stock currently trades at an 18%-24% premium to equipment peers, Sedita tells investors in a research note. The analyst cut National Oilwell's price target to $35 from $50.
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