Plains GP Holdings downgraded to Neutral from Buy at Citi

Citi analyst Spiro Dounis downgraded Plains GP Holdings to Neutral from Buy with a price target of $15.50, up from $14. The stock still offers a “compelling” free cash flow yield, but a lack of obvious catalysts could limit further upside from here, the analyst tells investors in a research note. The firm says crude focused names could also come under pressure as Citi’s commodity team maintains a cautious price outlook, particularly around risks to global oil demand.