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Fly News Breaks for July 16, 2019
Jul 16, 2019 | 17:18 EDT
Stifel analyst Benjamin Nolan downgraded Tellurian to Hold from Buy and lowered his price target on shares to $9 from $16. The analyst said he sees growth in LNG production limiting gas price upside, and pointed out that lower gas prices longer term would "have a negative impact on Tellurian's marketing margins and consequently their discounted cash flows." Nolan concluded that with a "dampened view on LNG prices," he no longer believes the shares offer "a risk/reward worth taking."
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