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Fly News Breaks for January 7, 2020
MMP
Jan 7, 2020 | 09:03 EDT
As previously reported, Wells Fargo analyst Praneeth Satish upgraded Magellan Midstream to Overweight from Equal Weight with a price target of $70, up from $69. The analyst cited its conservative leverage, ratable fee-based cash flows, and improving free cash flow, which should position the company for buybacks or a special distribution as early as 2020.
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