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Fly News Breaks for November 29, 2018
TRGP
Nov 29, 2018 | 05:26 EDT
Citi analyst Timm Schneider downgraded Targa Resources to Neutral and lowered his price target for the shares to $45 from $56. The analyst says that while he continues to view the company's assets in a favorable light, his updated sector views based on the importance of return on invested capital drive the downgrade. Targa's "lackluster" returns on capital negate strong growth given the high investment ratio, Schneider tells investors in a research note.
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