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Fly News Breaks for June 22, 2017
TRGP
Jun 22, 2017 | 07:49 EDT
UBS analyst Shneur Gershuni noted Targa Resources provided guidance which was below Street estimates, but he said it was premised on prudent assumptions related to commodity pricing and expectations of no spot LPG exports. He believes the buy-side was concerned with Q2 expectations and FY17 ability to achieve 1.0x coverage and thus should not surprised by the guide. He lowered his estimates but sees plenty of upside from current levels. Gershuni reiterated his Buy rating, but lowered his price target to $59 from $62 on Targa Resources shares.
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