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PetroLogistics (PDH) is initiated with a Buy rating and a $16 price target at Dahlman Rose,...

PetroLogistics (PDH) is initiated with a Buy rating and a $16 price target at Dahlman Rose, which sees PDH as a "pioneer" in the trend toward on-purpose production of feedstock chemicals. At the same time, the firm expects the propane/propylene spread to widen as a result of supply compression and improving demand.
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