Fly News Breaks for December 3, 2019
Dec 3, 2019 | 06:40 EDT
Credit Suisse analyst Jacob Lundberg downgraded RPC, Inc. to Underperform from Neutral with a price target of $3.50, down from $5.50. The analyst views the company's efforts to right-size its fracturing business as positive, but he expects "continued struggles" to reorient the customer base and drive sustainable attractive free cash flow. As such, RPC shares are expensive on an absolute and relative basis, Lundberg tells investors in a research note.
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