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Fly News Breaks for November 30, 2016
PTEN
Nov 30, 2016 | 13:14 EDT
As previously reported, BofA Merrill Lynch analyst Timna Tanners upgraded Patterson-UTI to Buy from Neutral, contending that OPEC's production cut agreement could accelerate the recovery in U.S. land rig activity. The firm's commodity team expects oil to move above $50 per barrel near-term and potentially as high as $59 per barrel in 2017, noted Tanners, who raised her price target on Patterson-UTI shares to $29 from $26.
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