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Stock Market & Financial Investment News

News Breaks
January 22, 2013
19:27 EDTLGCYLegacy Reserves approves FY13 capital budget of $90M
Legacy announced the board approved a 2013 development capital budget of $90M of which $68Mn will be considered maintenance capital.
News For LGCY From The Last 14 Days
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August 20, 2015
10:00 EDTLGCYOn The Fly: Analyst Downgrade Summary
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05:36 EDTLGCYLegacy Reserves downgraded to Neutral from Buy at UBS
UBS downgraded Legacy Reserve (LGCY) to Neutral after after stress testing upstream MLPs to reflect scenarios in which oil remains depressed and recovery is limited. The firm expects MLPs that are better capitalized, well hedged and less levered to crude oil to outperform. It lowered its price target for shares to $5.50 from $14. UBS coupled the downgrade with an upgrade of Mid-Con Energy (MCEP) to Buy. Other Buy-rated upstream MLPs at the firm are Vanguard Natural (VNR), Memorial Production (MEMP) and Eagle Rock Energy (EROC). Sell-rated names are LINN Energy (LINE) and LinnCo (LNCO).

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