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Fly News Breaks for January 23, 2019
OAS
Jan 23, 2019 | 07:01 EDT
Citi analyst Brian Downey downgraded Oasis Petroleum to Neutral and lowered his price target for the shares to $7 from $10 after taking over coverage from Robert Morris. The analyst believes a debate is forming around the optimal balance between free cash flow and growth for 2020 and beyond for the smid cap Exploration & Production companies. He likes the Permian Basin due to the region's "inventory quality and multiple positive developments in 2019" but also finds opportunities elsewhere.
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