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Fly News Breaks for February 12, 2020
Feb 12, 2020 | 09:26 EDT
Morgan Stanley analyst Devin McDermott reiterated Occidental Petroleum as a top pick following the company's pre-release of results that he said support his thesis for execution on operational improvements and synergy realization. In addition to a Q4 production beat on in-line capital expenses, Occidental increased 2020 production guidance by 2% while reducing its capex guidance by 2%, noted McDermott, who reiterated an Overweight rating on the stock with a $59 price target.