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Fly News Breaks for August 20, 2019
BPMP, SHLX
Aug 20, 2019 | 07:05 EDT
As previously reported, JPMorgan analyst Jeremy Tonet downgraded BP Midstream (BPMP) to Neutral with a lowered price target of $17 from $19 and Shell Midstream Partners (SHLX) to Underweight with a lowered price target to $22 from $23. The analyst notes that while the liquid Transportation & Service MLPs have fared better than the broader MLP space thanks to the less cyclical end market pull demand, he is concerned that a "large part of the market" is shunning incentive distribution right structures and believes these can impede a re-rating in these relatively richer valued stocks.
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