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Fly News Breaks for October 3, 2016
NOV
Oct 3, 2016 | 06:43 EDT
Citi analyst Scott Gruber downgraded National Oilwell to Sell and cut his price target to $30 from $37 citing recent share strength and expectations estimates will fall materially in Q4 and 2017, compressing the multiple. Gruber reduced his already below Street estimates to reflect a lower bottom in active floating rig count and limited end market improvement.
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