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Fly News Breaks for June 21, 2017
RES
Jun 21, 2017 | 08:00 EDT
Seaport Global analyst Mark Browtn downgraded RPC, Inc to Neutral from Buy and cut its price target to $20 from $25 to reflect a new commodity price deck. Seaport Global's Energy team reduced its long-term oil forecast to $40/bbl from $50/bbl to reflect "relentless" US production growth. The firm sees the potential for the oil market to be "significantly over supplied in 2018 and cut its oil price forecast for first half 2017 to $45/bbl from $55/bbl and first half 2018 to $35/bbl from $55/bbl.
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