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Fly News Breaks for February 7, 2020
GLOG, GLOP
Feb 7, 2020 | 06:20 EDT
Citi analyst Christian Wetherbee downgraded GasLog Partners (GLOP) to Neutral from Buy with a price target of $6.50, down from $22, after GasLog (GLOG) cut the company'd 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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