Legacy Reserves Inc fka LGCYQ

[eFinanceMarkets]

Legacy Reserves, EP Energy plunge as Stifel downgrades to Sell

Legacy Reserves (LGCY -5.9%) and EP Energy (EVEP -17.3%) plunge after Stifel analysts downgrade both stocks to Sell from Hold, cutting LGCY's price target in half to $1 from $2 and EVEP's target to $0.50 from $1.25.

In its LGCY downgrade, Stifel cites balance sheet constraints and a limited capacity to materially grow the partnership through the M&A market,.

On EVEP, the firm views the continued lower-for-longer commodity environment posing growing challenges as EVEP looks to manage its balance sheet ahead of coming maturities.