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Fly News Breaks for December 19, 2019
OXY
Dec 19, 2019 | 06:15 EDT
UBS analyst Lloyd Byrne lowered his price target on Occidental Petroleum to $40 and kept his Neutral rating amid tightening spreads in the Midland and lower expected pre-tax income in the Chemical segment due to slowing macro environment. The analyst adds that his model increased the discount rate to reflect the company's higher debt and risk profile to match that of its peers with similar debt levels.
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