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Fly News Breaks for February 21, 2019
TGE
Feb 21, 2019 | 07:30 EDT
Credit Suisse analyst Spiro Dounis downgraded Tallgrass Energy to Neutral from Outperform and lowered his price target to $25 following the stock outperformance relative to peers as investors expected an imminent acquisition. Instead, BIP bought a 44% economic interest, and Dounis tells investors in a research note that the BIP acquisition was not well received by the market as forced consolidation among commonly owned entities is a primary concern, but the stock has retained most of its premium valuation.
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