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Fly News Breaks for December 10, 2019
Dec 10, 2019 | 06:52 EDT
Citi analyst Scott Gruber upgraded Solaris Oilfield Infrastructure to Buy from Neutral with a price target of $14, up from $11. The analyst likes the company's leverage to a completion recovery and its free cash flow potential. The outlook for oilfield services has improved given the likely activity bottom in Q4, need to expand activity to mitigate the production growth deceleration, OPEC reducing supply risk in the first half of 2020, and the likely end of rate deflation early next year, Gruber tells investors in a research note. He believes the U.S. oilfield services trade "has legs" and that "quality" smaller caps are more attractive."
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