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Fly News Breaks for April 12, 2019
WLL
Apr 12, 2019 | 08:17 EDT
As previously reported, Morgan Stanley analyst Devin McDermott downgraded Whiting Petroleum to Equal Weight from Overweight following the stock's 32% year-to-date rally. The analyst, who sees a more balanced risk/reward for Whiting going forward, raised his price target on the shares to $31 from $28. More generally on the E&P group, he believes the combination of higher oil prices and disciplined capital budgets should begin to yield results and strong free cash flow across the sector.
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