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Fly News Breaks for August 2, 2019
PSXP
Aug 2, 2019 | 06:39 EDT
BofA/Merrill analyst Dennis Coleman upgraded Phillips 66 Partners to Buy with a price target of $58. The analyst contends that the recent incentive distribution rights buy-out deal reduces the company's cost of capital and "re-focuses" executive resources toward its "strong" organic backlog with potentially more appetite for M&A.
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