JPMorgan Downgrades Western Gas Partners (WES) to Neutral
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JPMorgan analyst Jeremy Tonet downgraded Western Gas Partners (NYSE: WES) from Overweight to Neutral with a price target of $31.00 (from $40.00).
- Steps aside given uncertainties.
- Says that while shares could be viewed as undervalued following recent correction, the risks are presenting an extended overhang.
- Sees better risk/return profiles in other names under the coverage universe.
Shares of Western Gas Partners closed at $24.46 yesterday.
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