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Fly News Breaks for June 26, 2018
BWP
Jun 26, 2018 | 20:32 EDT
JPMorgan analyst Jeremy Tonet downgraded Boardwalk Pipeline to Neutral and lowered its price target to $12 from $13 following the class-action litigation filed in connection with the potential exercise of the call right for Boardwalk common units. The analyst expects the Loews to exercise the call right by June 29 at approximately $12 per unit, based on the 180 trading day VWAP. Tonet sees better return potential elsewhere based on Boardwalk's move today..
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