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Fly News Breaks for August 23, 2019
CEQP
Aug 23, 2019 | 06:43 EDT
RBC Capital analyst Elvira Scotto upgraded Crestwood Equity to Outperform from Sector Perform and raised its price target to $44 from $40 based on expectations for a ramp in free cash flow in 2020. Larger projects are coming online this year and in early 2020, which will result in an increase and cash flow and a meaningful decline in capex growth, the analyst wrote in a note to investors. Scotto expects Crestwood to boast one of the strongest balance sheets when it exits 2020 which provides financial flexibility to return more cash to shareholders and better withstand commodity price volatility.
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