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Fly News Breaks for February 11, 2020
SPH
Feb 11, 2020 | 08:03 EDT
Argus analyst David Coleman downgraded Suburban Propane to Sell from Hold. The analyst believes that the company is facing industry headwinds with propane becoming a "less attractive" fuel source relative to options like low-cost natural gas. Coleman adds that Suburban Propane lacks revenue diversification, with about 85% of its revenue coming from propane, and lowers his FY20/FY21 earnings estimates by 10c and 13c to $1.32 and $1.38 respectively.
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