AM - Antero Midstream slashed to Sell rating at Goldman after run-up

Antero Midstream ([[AM]] -4.2%) slides sharply after Goldman Sachs downgrades shares to Sell from Neutral with a $7.50 price target, saying its valuation has run too far.While remaining generally positive on the macro environment for midstream, Goldman thinks Antero Midstream has more than outpaced reasonable valuation levels relative to its peers and its history, particularly given its limited direct operating leverage to higher commodity prices."When the energy high-beta rally eventually slows, we expect investors to shift focus to midstream companies with higher asset quality... and fewer governance concerns, driving AM to re-rate back lower vs. peers," the firm writes.Antero Midstream's financial strength is among the best of the midstream companies followed by Long Player, according to a bullish analysis published by Seeking Alpha.

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Antero Midstream slashed to Sell rating at Goldman after run-up