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Fly News Breaks for January 8, 2020
SJI, NJR
Jan 8, 2020 | 08:30 EDT
Guggenheim analyst Shahriar Pourreza downgraded New Jersey Resources (NJR) to Sell from Neutral to reflect a refreshed sector call as well as relative and absolute valuation levels. The analyst believes South Jersey Industries (SJI) remains the more attractive portfolio holding from a relative perspective and believes the valuation "disconnect" between the two companies is "irrational."
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