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Fly News Breaks for April 11, 2017
TTI
Apr 11, 2017 | 07:20 EDT
As previously reported, Credit Suisse analyst Jacob Lundberg upgraded TETRA to Outperform from Neutral saying that covenant issues were resolved with a December 2016 equity raise, pricing headwinds in PT Production Testing abated and management expects 2H17 price tailwinds, and deepwater GoM activity appears to be at/near trough levels. While there are limited near-term catalysts, the analyst sees the valuation as attractive for long-term oriented investors. Lundberg also raised his price target on the shares to $5.50 from $5.