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Fly News Breaks for December 2, 2015
SFY
Dec 2, 2015 | 06:22 EDT
Wells Fargo analyst Gordon Douthat downgraded Swift Energy to Underperform following the company's decision to not to make an $8.9M semi-annual interest payment. Without asset sales or a restructuring, Swift's $1.2B in debt exceeds asset value leaving no equity value, Douthat tells investors in a research note. He cut his price target for shares to 0c-50c from 25c-75c.
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