UBS downgraded Antero Midstream to Neutral from Buy with a price target of $15, up from $14. The stock is up nearly 35% in the past year and the firm believes Antero’s free cash flow inflection along with increasing return of capital opportunities have been priced into the stock at this point, the analyst tells investors. The firm also cites “somewhat limited” growth opportunities in the next 12 months due to Antero’s reduced activity as a reason for the downgrade.
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