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Fly News Breaks for December 17, 2015
GLNG, KMI, GLOG, TK
Dec 17, 2015 | 09:58 EDT
Wells Fargo analyst Michael Webber downgraded both Teekay Corp. (TK) and GasLog (GLOG) to Market Perform from Outperform saying pressure around dividend cuts is likely to continue weighing on the stocks. The market is likely to focus on GasLog and Golar LNG (GLNG) following Kinder Morgan's (KMI) dividend cut earlier this month and Teekay's announcement last night, Webber tells investors in a research note. The analyst lowered his price target range for Teekay shares to $18-$20 from $35-$37 and for GasLog to $10-$12 from $21-$23. Three other firms downgraded Teekay this morning.
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