Alliance Global Partners analyst C.K. Poe Fratt upgraded Knot Offshore Partners to Neutral from Sell without a price target. The analyst cites valuation for the upgrade following the weak stock price performance on the company’s "surprisingly steep" distribution cut in the 95% range. The investor base has turned over and shifted away from income oriented investors due to the materially lower distribution, the analyst tells investors in a research note.
Published first on TheFly
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