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Fly News Breaks for March 23, 2018
BPL
Mar 23, 2018 | 08:26 EDT
Morgan Stanley analyst Tom Abrams downgraded Buckeye Partners to Equal Weight from Overweight following the recent FERC ruling on cost of service pipelines. In a research note to investors, Abrams, who acknowledged it was a "difficult call," said he sees more headwinds adding to the 2020+ outlook for Buckeye with the potential impacts from FERC's revised indexation policy, and sees "little cushion" developing for a number of years. Abrams cut his price target on Buckeye Partners to $44 from $60.
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