Suburban Propane lifted from Sell rating at Argus as industry trends improve

• Suburban Propane Partners (SPH -1.1%) is upgraded to Hold from Sell at Argus Research, after shares have dropped 25% since February but industry trends for propane companies are now improving.
• The company posted better than expected Q2 results, and Argus analyst John Staszak thinks another positive surprise may be in store when it reports Q3 results in the coming weeks, while the stock still yields more than 7% even after the 50% dividend cut, which is attractive in a low-interest-rate environment.
• The reduction should help reduce Suburban Propane's high leverage, which should be accomplished in 3-5 five years, Daniel Thurecht wrote in an analysis published on Seeking Alpha.