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Fly News Breaks for February 16, 2016
ORIG
Feb 16, 2016 | 06:57 EDT
Evercore ISI analyst James West downgraded Ocean Rig UDW to Hold and a 60c price target on shares. The analyst expects producers to continue to cancel floater contracts with Brent oil at or near $35/bbl. Only 12 floaters have been contracted year to date for an average term of less than 108 days, while 8 floaters have been identified for early termination, underlying the analyst's cautious view.
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