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Fly News Breaks for September 10, 2019
Sep 10, 2019 | 07:48 EDT
Maxim analyst Tate Sullivan downgraded Recon Technology to Hold from Buy based on the potential for customers to delay spending on oil wells in China oilfields as a result of uncertainty from ongoing China-U.S. trade disputes and oil price volatility. Sullivan, who removed his prior $2 price target on Recon shares, also noted that China's currency declined to an 11-year low versus the dollar last month.
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