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Fly News Breaks for July 20, 2015
GEL
Jul 20, 2015 | 08:09 EDT
After Genesis Energy increased its ownership of offshore pipelines in the Gulf of Mexico, RBC Capital thinks the deal will be highly accretive for Genesis, while improving its coverage and balance sheet. The firm also believes that the deal increases the visibility of the company's distribution growth over the next five years. RBC raised its price target on the name to $58 from $56 and keeps an Outperform rating on the shares.
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