Entering text into the input field will update the search result below

Legacy Reserves +10% despite FBR downgrade

Jan. 27, 2016 11:59 AM ETLegacy Reserves Inc. (LGCY) StockLGCYBy: Carl Surran, SA News Editor
  • Legacy Reserves (LGCY +10.4%) is sharply higher despite getting a downgrade to Market Perform from Outperform with a $1 price target, cut from $3, at FBR Capital, which says it was surprised the company suspended both its common and preferred distributions and expects LGCY to remain weak following the decision.
  • While high leverage and weak hedges had warranted monitoring, FBR says it believed the partnership could weather the storm, as asset sales could facilitate debt paydown and LGCY had no near-term debt maturities.

Recommended For You

More Trending News

Related Stocks

SymbolLast Price% Chg
LGCY--
Legacy Reserves Inc.