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Fly News Breaks for December 9, 2019
Dec 9, 2019 | 05:09 EDT
Goldman Sachs analyst Michael Lapides initiated coverage of Plains GP Holdings with a Neutral rating and $18 price target. Declining tariffs will create lower returns on newbuild pipelines due to a surplus of Permian takeaway capacity, Lapides tells investors in a research note. Further, the analyst expects elevated capital spending in 2020, with significant improvements in cash flow in 2021 and beyond as new pipelines come online.
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