DA Davidson analyst Barry Oxford lowered his price target on CorEnergy to $40 after the company sold its Portland Terminal Facility and remaining interest in the Joliet Terminal to Zenith Energy last week. The analyst notes that the sale also reduces his expected FY19 FFO estimate by 6c to $3.71, anticipating the sale proceeds to be used to initially deleverage the balance sheet before being reinvested in another asset in 2019. Longer term, Oxford keeps his Buy rating on CorEnergy, saying its valuation is "attractive" at 8.4-times forward FFO estimates relative to the 14.4-times net peer group average.