UBS analyst Shneur Gershuni downgraded USA Compression Partners to Neutral from Buy and lowered his price target for the shares to $12.50 from $17. Despite the significant increase in rig count and production over the past several years, USA Compression's leverage remains above five times, Gershuni tells investors in a research note. The analyst had expected the company's leverage to improve further than it has as the cycle matured due to higher utilization and revenues per horsepower. Without a significant increase in revenue per horsepower, management will need to wait for cycle improvements with high leverage or take a distribution cut, and either option will likely not be well received by investors, says Gershuni.