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Fly News Breaks for March 27, 2017
SLB, WFT
Mar 27, 2017 | 06:46 EDT
Deutsche Bank analyst Mike Urban calls Weatherford (WFT) and Schlumberger's (SLB) OneStim joint venture a "rare win - win situation." Weatherford is aligning itself with the global oilfield services leader while bringing in much needed cash for deleveraging, Urban tells investors in a research note. Schlumberger, meanwhile, gains immediate scale in a critical growth market without adding capacity, the analyst adds. He views the deal as a "significant positive" for Weatherford and reiterates a Buy rating on the shares with an $8 price target.
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