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Fly News Breaks for December 8, 2016
FGP
Dec 8, 2016 | 07:07 EDT
As noted earlier, RBC Capital upgraded Ferrellgas to Sector Perform from Underperform. Analyst TJ Schultz says that the company's 80% distribution cut should enable it to reduce its debt, However, the analyst still expects the company to "temporarily" violate its debt covenants next summer, and he says the covenants could "become a bigger issue" subsequently. Target to $6 from $11.
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