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Fly News Breaks for May 17, 2018
TEP
May 17, 2018 | 07:23 EDT
As reported earlier, RBC Capital analyst Elvira Scotto downgraded Tallgrass Energy Partners to Sector Perform from Outperform and kept her $45 price target. The analyst says that while the recent integration with Tallgrass Energy GP and the elimination of incentive distribution rights is positive, it may have been priced in by the 22% rise in shares since the announcement of the "simplification". Scotto prefers to await more "clarity on re-contracting", as her model also assumes some EBITDA "degradation" in FY20.
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