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Fly News Breaks for May 2, 2017
ETP, SXL
May 2, 2017 | 07:18 EDT
Baird analyst Ethan Bellamy upgraded Energy Transfer Partners (ETP) to Outperform from Neutral following the acquisition of standalone ETP by Sunoco Logistics (SXL) and the creation of a new combined company. "New" Energy Transfer Partners will begin trading under the ticker ETP today, he noted. The analyst reiterated his underlying operational expectations and reiterated his Q1 estimates for the previous standalone ETP and Sunoco Logistics businesses. Bellamy has a $30 price target on "new" Energy Transfer Partners shares.
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