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Fly News Breaks for June 11, 2018
SEMG
Jun 11, 2018 | 07:13 EDT
As previously reported, Wells Fargo analyst Michael Blum downgraded SemGroup to Market Perform from Outperform as he believes its growth trajectory is mostly reflected in valuation. The sale of lower quality assets and a more focused strategy around fee-based assets with visible growth has led to multiple expansion for SemGroup, he notes. The analyst also lowered his price target on the shares to $27 from $30.
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