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DewDiligence

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DewDiligence

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Re: DewDiligence post# 179

Wednesday, 07/08/2009 7:58:39 AM

Wednesday, July 08, 2009 7:58:39 AM

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HES – Bad timing by Barclay’s analyst, Paul Cheng? Not really! Although Cheng upgraded HES a few hours before the company issued the dry-hole PR yesterday afternoon, HES was one of the few energy stocks that rose yesterday. The bad news on the Guarani well was already priced in and the stock had become too cheap.

Cheng raised his 2010 EPS forecast to $3.45:
http://finance.yahoo.com/news/Hess-upgraded-on-attractive-apf-2077673121.html?x=0&.v=1


“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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