Alliance Global Partners analyst C.K. Poe Fratt downgraded Knot Offshore Partners to Sell from Buy with a $6 price target. While he expected action on the distribution level, the magnitude of the company’s 95% distribution cut is "much deeper than expected," said the analyst. He expects the investor base to turn over and shift away from income oriented investors due to a materially lower distribution, which "could take some time," Poe Fratt added.
Published first on TheFly
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