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InterOil (IOC -10%) shares are slammed after Raymond James cuts its rating to Market Perform...
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Thursday, April 5, 2012, 11:37 AM ETInterOil (IOC -10%) shares are slammed after Raymond James cuts its rating to Market Perform from Outperform, citing Papua New Guinea's six-month postponement of its general election. The move is a major setback, given IOC's prior insistence that the election would be a catalyst for getting LNG project approval from the government.
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