Citi analyst Spiro Dounis downgraded Hess Midstream LP (HESM) to Neutral from Buy with a price target of $41, down from $42. The firm views the stock’s risk/reward as more balanced following the acquisition of Hess Corp. by Chevron (CVX). Hess Midstream’s growth now relies on Chevron’s Bakken development, which is less clear than Hess’ previous plans, the analyst tells investors in a research note.
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