Suburban Propane downgraded to Underperform from Neutral at Mizuho

Mizuho downgraded Suburban Propane to Underperform from Neutral with a price target of $17, up from $16. The analyst says a “dislocation” between technicals and fundamentals prompts the downgrade. The units have experienced significant buying support from passive index funds, which is the primary driver of Suburban’s 36% unit appreciation since the AMZI methodology announcement, the analyst tells investors in a research note. The firm says the current valuation is “disconnected from fundamentals” and expected weaker fiscal Q1 results from warm October-December weather.