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Fly News Breaks for April 9, 2018
PQ
Apr 9, 2018 | 07:50 EDT
Roth Capital analyst John White downgraded PetroQuest to Neutral from Buy citing the company's decision to shift to pursuing its options for a joint venture for its East Texas Cotton Valley assets and its options for its acreage position in the emerging Louisiana Austin Chalk play. He also noted the company's sharply reduced production guidance for 1Q and the deferral of issuing capex guidance. White lowered his price target on PetroQuest shares to $1.75 from $5.00.
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