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Fly News Breaks for April 29, 2019
SMLP
Apr 29, 2019 | 09:24 EDT
As previously reported, RBC Capital analyst Elvira Scotto downgraded Summit Midstream to Sector Perform and lowered her price target to $10 from $17. The analyst cites a heightened risk to the company's earnings and dividend payout after its 2019 adjusted EBITDA forecast was cut amid delays to the DJ processing plant and land issues in the Utica. Scotto also anticipates a "substantial increase" in Summit Midstream leverage in 2020.
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