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Fly News Breaks for August 8, 2019
OAS
Aug 8, 2019 | 08:06 EDT
Raymond James analyst John Freeman downgraded Oasis Petroleum to Outperform from Strong Buy and lowered his price target for the shares to $4 from $7.50. The analyst says the CapEx revision negatively impacted the company's free cash flow outlook, and the miss is indicative of issues that will likely persist through the end of the year at least. As a result, Freeman says Oasis no longer screens highly on either a cash flow generation or production growth basis, even though valuation remains attractive compared to peers.
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