Fly News Breaks for February 5, 2020
Feb 5, 2020 | 20:13 EDT
Goldman Sachs analyst Michael Lapides upgraded Plains All American (PAA) and Plains GP Holdings (PAGP) to Buy from Neutral with a $19 price target. The analyst believes that the shares can generate upside from a recent period of underperformance over the past 3 months, noting that the weakness looks overdone and does not reflect any changes in operating conditions. Lapides adds that Plains' cash flows and leverage should improve with large projects coming online, particularly next year.
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