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Fly News Breaks for August 30, 2016
PE
Aug 30, 2016 | 07:58 EDT
Morgan Stanley analysts led by Drew Venker said Parsley Energy is their top pick in Mid-Cap E&P. The analyst said consensus production estimates have been revised upward to the low end of 2018 scenarios but he sees higher activity levels and expects upward revisions to continue. As visibility increases, Venker expects an expansion in the multiple and reiterates its Overweight rating and $48 price target on Parsley Energy shares.
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