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Fly News Breaks for February 7, 2020
GLOP, GLOG
Feb 7, 2020 | 06:18 EDT
Citi analyst Christian Wetherbee downgraded GasLog (GLOG) to Neutral from Buy with a price target of $6, down from $15, following the company's move to cut GasLog Partners' (GLOP) distribution by 78%. While the analyst acknowledges the headwinds from five steam vessels coming off charters over the next four quarters, he believes other options existed which would have resulted in value creation versus "destruction," specifically a merger of the two companies.
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