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Fly News Breaks for May 25, 2018
UPL
May 25, 2018 | 07:23 EDT
As previously reported, Stifel analyst Michael Scialla downgraded Ultra Petroleum to Hold from Buy after lowering his long-term NYMEX natural gas price forecast to $2.25 from $2.75, stating that supply growth appears set to outpace incremental demand from LNG exports, Mexican exports, and industrial sources. Given what he sees as the deteriorating long-term natural gas fundamentals, he lowered his price target on Ultra Petroleum shares to $1 from $3.
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