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Fly News Breaks for May 23, 2018
WPX
May 23, 2018 | 07:30 EDT
Seaport Global analyst Mike Kelly upgraded WPX Energy to Buy from Neutral with a $25 price target saying its the best positioned mid-cap Permian name on the midstream takeaway front. Kelly said management has transformed WPX from an over-leveraged gas company with scattered assets into a Delaware and Bakken powerhouse with cash flows set to triple from 2017 to 2020, combined with a compressed valuation.
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