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Fly News Breaks for March 25, 2015
WLL
Mar 25, 2015 | 08:32 EDT
RBC Capital believes that Whiting's decision to raise $3B in capital dilutes the company's net asset value by 15%-20% and has made investors less optimistic about the company's takeover prospects. However, the firm thinks the move will enable the company to survive an extended low commodity price environment and strive once oil prices rebound. RBC cut its price target on the name to $41 from $44 and kept an Outperform rating on the shares.
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