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Fly News Breaks for September 5, 2017
PTEN
Sep 5, 2017 | 05:24 EDT
JPMorgan analyst Sean Meakim upgraded Patterson-UTI to Overweight saying the 26% selloff since July 19 has created a buying opportunity. Despite having "solid exposure to the best volume and pricing story left in North America," frac, Patterson-UTI is the cheapest land driller under coverage, Meakim tells investors in a research note. The analyst keeps a $24 price target on the shares.
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