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Fly News Breaks for May 7, 2018
BPL
May 7, 2018 | 06:51 EDT
Citi analyst Eric Genco downgraded Buckeye Partners to Neutral and lowered his price target for the shares to $39 from $55. The analyst sees the company's "financial recovery story turning into a longer story than expected." The contango crude environment appears to be posing a heavier weight on the Global Marine Terminals segment, offsetting other segments, Genco tells investors in a research note. He thinks the stock's upside is likely "capped" as the possibility of a distribution cut "lingers and potentially becomes more likely as leverage increases."
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