Western Midstream downgraded to Neutral from Overweight at JPMorgan
The Fly

Western Midstream downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Western Midstream Partners to Neutral from Overweight with a price target of $29, down from $31, after the company reported Q2 EBITDA below estimates. Delaware producer operational challenges, new base well performance choking back legacy wells, and time to market delays materialized during the quarter, the analyst tells investors in a research note. The firm now sees a balanced risk/reward at current share levels.

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