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Knot Offshore Partners downgraded to Sell from Buy at Alliance Global Partners
The Fly

Knot Offshore Partners downgraded to Sell from Buy at Alliance Global Partners

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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