Global Hunter Securities Downgrades Crosstex Energy (XTEX) to Accumulate; Repositioning More Defensively

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Global Hunter Securities downgraded Crosstex Energy (NASDAQ: XTEX) from Buy to Accumulate with a price target of $18.00 (from $21.00).

Analyst, Bernard 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. We recommend positioning defensively going into the Q2:12 reporting season, favoring fee-based, diversified MLPs with low exposure to unhedged NGLs."

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

Shares of Crosstex Energy closed at $16.40 yesterday, with a 52 week range of $13.23-$18.38.

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