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Fly News Breaks for November 4, 2019
MMP
Nov 4, 2019 | 06:15 EDT
BofA/Merrill analyst Derek Walker downgraded Magellan Midstream Partners to Underperform from Neutral with a $61 price target. The stock's valuation "appears stretched" at current levels, Walker tells investors in a research note. Further, the analyst sees elevated project capture risk, particularly within the crude oil segment driven by an intensifying competitive environment.
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