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Fly News Breaks for August 31, 2017
PTEN
Aug 31, 2017 | 07:50 EDT
Societe Generale analyst Edward Muztafago initiated Patterson-UTI with a Buy and a $22 price target due to large exposure to the US frac market. Muztafgo expects Patterson to benefit from a stronger backdrop for well completion activity combined with sunk drilling costs and a significant increase in drilled but uncompleted well backlog so far this year.
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