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Fly News Breaks for August 16, 2016
ORIG
Aug 16, 2016 | 05:40 EDT
Deutsche Bank analyst Mike Urban downgraded Ocean Rig UDW to Hold saying the company's restructuring is likely unfavorable for existing equity holders. Management surprised the market by announcing that a restructuring was likely over the next several months, Urban tells investors in a research note. He cut his price target for the shares to $1 from $4.
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