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Fly News Breaks for February 18, 2016
Feb 18, 2016 | 06:23 EDT
Wells Fargo analyst Praneeth Satish downgraded BreitBurn Energy to Underperform and lowered his price target range for the shares to $0-$1 from $1-$2. Satish downgraded the Master Limited Partnership sector to Underweight citing default risk. He expects all the upstream MLPs he covers to suspend distributions payouts if not done already, and says that while the shares have meaningful upside if oil prices rebound significantly, there's also a high likelihood that many could have zero equity value as hedges expire over the next two years.
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