Suburban Propane downgraded to Underweight on valuation at Wells Fargo

Wells Fargo downgraded Suburban Propane to Underweight from Equal Weight with an unchanged price target of $17. The analyst cites valuation and a lack of near-term catalysts for the downgrade. The shares warrant a valuation discount given the lack of visibility in propane volumes and warmer weather, the analyst tells investors in a research note.