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Fly News Breaks for January 7, 2020
GEL
Jan 7, 2020 | 09:19 EDT
As previously reported, Wells Fargo analyst Michael Blum downgraded Genesis Energy to Underweight from Equal Weight with a $21 price target. The analyst cited the partnership's high leverage, and high exposure to offshore Gulf of Mexico. Headline risk around a potential federal ban on offshore drilling could increase in 2020 as several of the Democratic Presidential candidates have stated policies to ban drilling in federal waters, the analyst adds.
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