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Fly News Breaks for October 8, 2018
SEMG
Oct 8, 2018 | 21:41 EDT
Goldman Sachs analyst Michael Lapides downgraded SemGroup to Sell and lowered his price target for the shares to $18 from $25. The analyst cites valuation for the downgrade saying the shares currently trade at 9.6 times versus peers at 10.5 times. Lapides, however, believes SemGroup should trade at a discount to C-Corp peers given its "below-average" returns and balance sheet position.
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