Jefferies initiated coverage of UGI Corporation (UGI) with a Buy rating and $28 price target The firm expects a sharper focus on the core Nat Gas franchise under new leadership and with the “attractive” Pennsylvania-focused utility representing about 90% of the stock price, and Midstream to offset AmeriGas’ negative value, the firm sees “a strong sum-of-the-parts story” as well as avenues to unlock value by refocusing on gas, the analyst tells investors.
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