Crestwood Equity downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analyst Elvira Scotto downgraded Crestwood Equity to Sector Perform from Outperform with a price target of $27, down from $29. The company reported Q2 results that missed consensus expectations and now expects to be at the lower half of 2023 guidance, the analyst tells investors in a research note. The firm reduced estimates to reflect RBC’s price deck and push out of some well completions into 2024. It now sees limited upside to estimates.