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Fly News Breaks for May 24, 2019
SR
May 24, 2019 | 06:34 EDT
Wells Fargo analyst Sarah Akers downgraded Spire to Market Perform from Outperform with an unchanged price target of $92. The company's valuation gap relative to Gas LDC peers has meaningfully narrowed, making its risk/reward balanced at current share levels, Akers tells investors in a research note. The analyst would look to get more constructive on Spire with a stock pullback and/or if she gained confidence in upside drivers, such as new regulated infrastructure projects and a faster improvement at Spire Storage.
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