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Fly News Breaks for January 7, 2020
CNXM
Jan 7, 2020 | 09:11 EDT
As previously reported, Wells Fargo analyst Praneeth Satish downgraded CNX Midstream Partners to Underweight from Equal Weight with a price target of $14, down from $16. The analyst believes the company's long-term growth prospects have become less visible, while rising costless gas from crude oil plays could reduce the need for incremental gas growth out of the Northeast. CNX Midstream Partners is protected in the near-term due to minimum volume commitments and minimum well commitments, but long-term visibility is poor, Satish adds.
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