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Fly News Breaks for August 29, 2018
CPLP
Aug 29, 2018 | 08:48 EDT
As previously reported, Janney Montgomery Scott analyst Michael Gyure downgraded Capital Product Partners to Neutral from Buy as he has become more concerned with market related headwinds that could negatively impact revenues and margins in 2019. He is worried about vessels with contracts tied to market rates, as well as those that expire over the next 12 months, which he sees remaining flat or moving lower due to continued oversupply in the tanker market, Gyure tells investors. He lowered his fair value estimate on Capital Product units to $3.50 from $4.50.
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