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Fly News Breaks for November 30, 2018
OKS, OKE, UGI, APU
Nov 30, 2018 | 07:11 EDT
Jefferies analyst Christopher Sighinolfi upgraded AmeriGas Partners (AGP) to Buy from Hold while lowering his price target for the shares to $40 from $41. Given the "stock price divergence," the analyst sees an opportunity for UGI Corporation (UGI) to accretively acquire AmeriGas via a stock-for-unit transaction. A 22.5% premium to respective 30-day volume weighted average prices, consistent with the Oneok (OKE)/Oneok Partners (OKS) merger in 2017, implies an average of 4% earnings accretion though fiscal 2023 for UGI, Sighinolfi tells investors in a research note.
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