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Fly News Breaks for September 28, 2015
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Sep 28, 2015 | 12:07 EDT
Northland noted that Sanchez Energy had previously discussed the possible sale of midstream assets, so the firm does not view its $345M asset sale as a surprise, but it does think the value capture from the sale is not fully appreciated by the market. The firm, which thinks Sanchez may use its improved liquidity for acquisitions, where it has a demonstrated history of success, or to accelerate development, reiterates its Outperform rating and $12 price target on the stock.