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Fly News Breaks for November 6, 2017
CIE
Nov 6, 2017 | 06:36 EDT
Citi analyst Robert Morris cut his price target for Cobalt International to $0 from $1.00 saying a Chapter 11 bankruptcy filing is the most likely outcome for the company. Cobalt has had a lack of success in completing asset sales and a potential delisting from the New York Stock Exchange is near, Morris tells investors in a research note. He reiterates a Sell rating on the shares.
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