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Fly News Breaks for September 28, 2016
FGP
Sep 28, 2016 | 09:57 EDT
JPMorgan analyst Jeremy Tonet downgraded Ferrellgas Partners LP to Underweight and lowered his price target for the shares to $13 from $20. The analyst cites today's announcements of an impairment of $660M in the Midstream business, the possible cut in the distribution run-rate to $1.00 from $2.05, and the "unexpected" CEO transition for the rating change. Piper Jaffray also downgraded Ferrellgas this morning.
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