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Posted by
Two Blokes May 23 -
Filed in
Stock
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Panmure Liberum has downgraded Tullow Oil PLC (LSE:TLW) to a 'sell', warning that the company remains trapped in a cycle of weak production, asset sales and mounting financial stress. The broker slashed its target price from 21p to 9p, citing a bleaker outlook for cash flow and an increasingly urgent need for refinancing.
