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Fly News Breaks for December 21, 2015
TRGP
Dec 21, 2015 | 06:34 EDT
Credit Suisse analyst John Edwards downgraded Targa Resources two notches to Underperform from Outperform and lowered his price target to $36 from $79 on shares. Edwards said Targa's coverage is below 1x and leverage is more than 6x, and sees no way Targa can avoid a substantial dividend cut in 2016.
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