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Fly News Breaks for September 4, 2018
GEL
Sep 4, 2018 | 08:05 EDT
As reported previously, Baird analyst Ethan Bellamy downgraded Genesis Energy to Neutral from Outperform. The analyst noted the company shaved off some of its leverage ratio with the divestiture of its Powder River Basin property, but he believes the deleveraging pace has slowed and he doesn't expect a valuation move until the leverage recedes meaningfully in 2020. Bellamy maintained his $26 price target on Genesis Energy shares.
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