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Fly News Breaks for April 16, 2018
OXY
Apr 16, 2018 | 06:05 EDT
Piper Jaffray analyst Guy Baber last night upgraded Occidental Petroleum to Overweight from Neutral and raised his price target for the shares to $86 from $77. A "generous" dividend yield of 4.2%, "rapidly" improving free cash flow, and "unique" competitive advantages in the Permian indicate shares of Occidental have hit an inflection point, Baber tells investors in a research note. The analyst sees minimal downside risk from current share levels and a favorable setup into the Q1 results.
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