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Fly News Breaks for February 24, 2020
AM
Feb 24, 2020 | 06:43 EDT
Wells Fargo analyst Ned Baramov downgraded Antero Midstream to Underweight from Equal Weight with a $5 price target as part of a broader research note on Midstream C-Corps. In a research note to investors, Baramov says he prefers Canada over the U.S. given a better fundamental midstream outlook north of the border and would avoid names with meaningful Northeast G&P exposure. With low natural gas and NGL prices, we see growing E&P counterparty risk to Northeast midstream, creating headwinds to performance for companies with meaningful northeast G&P exposure, the analyst says. He is now Overweight all Canadian midstream names under coverage, Underweight all pure-play Northeast G&P companies, and Equal weight on large cap pipeline companies with significant Northeast G&P exposure.
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