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Fly News Breaks for August 23, 2019
SEMG
Aug 23, 2019 | 06:24 EDT
RBC Capital analyst Elvira Scotto downgraded SemGroup to Sector Perform from Outperform and slashed her price target to $11 from $19 due to high leverage and balance sheet concerns. Scotto does not see a clear path to quickly de-lever and sees a cut in the dividend by 100% as the only option with potential asset sales at the right price.
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