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Fly News Breaks for March 25, 2015
WLL
Mar 25, 2015 | 07:36 EDT
Macquarie analyst Paul Grigel said Whiting Petroleum removed a balance sheet overhang with its equity and debt capital raising, but he expects a near-term "digestion period" for shares as investors who were focused on the potential for a takeout exit the stock. The firm thinks the focus will return to Whiting’s ability to drive enhanced value from the Williston Basin and Redtail over time and keeps its Outperform rating on the stock, but lowered its price target on the shares to $44 from $60.
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