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Fly News Breaks for March 29, 2017
ROYT
Mar 29, 2017 | 09:06 EDT
Stifel analyst Brian Brungardt upgraded Pacific Coast Oil to Buy from Hold while keeping his $2.00 price target on the shares. Last night's February production update, which included a disclosure that the trust will exceed $2M of proceeds in 2017, removes the risk of dissolution at year end, Brungardt tells investors in a research note. The trust trades at a "modest" 20% premium relative to its net profit interests, or a significant discount to its peers which trade in excess of a 200% premium, the analyst writes.
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