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Fly News Breaks for March 13, 2019
NS
Mar 13, 2019 | 06:16 EDT
JPMorgan analyst Jeremy Tonet downgraded NuStar Energy to Underweight from Neutral with an unchanged price target of $28. The analyst sees lower return potential following the stock's "significant outperformance" year-to-date. Further, Tonet highlights the dilution potential from NuStar Energy's eventual preferred conversion as well as its elevated credit agency leverage levels compared to peers.
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