Global Hunter Securities Downgrades Copano Energy (CPNO) to Reduce; NGL Price Concerns at the Forefront

July 2, 2012 8:53 AM EDT
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Price: $40.21 --0%

Rating Summary:
    2 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Global Hunter Securities downgraded Copano Energy (NASDAQ: CPNO) from Neutral to Reduce with a price target of $26.00 (from $31.00).

Analyst, Bernand Colson, said, "We believe a weakening US economy, high propane inventories (and prices) and continued weakness in natural gas prices all indicate a higher risk that NGL prices stay lower for longer. This results in caution toward the gathering & processing subsegment."

For an analyst ratings summary and ratings history on Copano Energy click here. For more ratings news on Copano Energy click here.

Shares of Copano Energy closed at $27.80 yesterday.

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