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Fly News Breaks for March 24, 2015
WLL
Mar 24, 2015 | 08:15 EDT
After Whiting Petroleum issued shares this morning, causing a steep decline in the share price in pre-market trading, Sterne Agee recommends buying the shares. The firm thinks the deal could leave Whiting with $500M of cash on hand, an undrawn $3.5B credit facility, and a manageable $568M free cash flow deficit from 2Q15 through 2016. It keeps a $52 price target on the shares.
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