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Fly News Breaks for March 8, 2019
SEMG
Mar 8, 2019 | 06:17 EDT
UBS analyst Shneur Gershuni last night downgraded SemGroup to Neutral from Buy and lowered his price target for the shares to $14.50 from $19. SemGroup stretched its balance sheet for the HFOTCO acquisition and over the last few years has been forced to sell assets like Glass Mountain to bring down leverage, Gershuni tells investors in a research note. As such, the analyst prefers to be on the sidelines.
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