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Laredo Petroleum (LPI -4.1%) is downgraded to Market Perform with a $22 price target (from $27)...

Laredo Petroleum (LPI -4.1%) is downgraded to Market Perform with a $22 price target (from $27) at BMO Capital on concerns over the pace of spending and what it could mean in terms of increased leverage on an already-leveraged balance sheet or a lower planned growth rate, all while still outspending cash flow.
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