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Fly News Breaks for August 15, 2019
TRGP
Aug 15, 2019 | 07:14 EDT
Credit Suisse analyst Spiro Dounis lowered his price target for Targa Resources to $44 from $49, while reiterating an Outperform rating on the shares. The analyst sees mitigated downside for the remainder of 2019 as Targa is now 80%-90% hedged and has materially reduced its commodity exposure. That said, 2020 is largely un-hedged and commodities likely remain weak, presenting a risk into next year, he contends.
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