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Fly News Breaks for February 23, 2018
MIC
Feb 23, 2018 | 07:55 EDT
RBC Capital analyst TJ Schultz lowers his price target on Macquarie Infrastructure to $55, saying investors were caught off guard by certain St. Rose terminal customers not renewing contracts for heavy oil, which led to the company's 31% dividend cut. The analyst keeps his Outperform rating however, adding that Macquarie Infrastructure's execution could prove that the most recent selloff was too extreme.
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