UPDATE: J.P. Morgan Initiates Coverage on Quality Distribution
According to a research report published this morning, J.P. Morgan has initiated Quality Distribution (NASDAQ: QLTY) with an Overweight rating and $17 PT.
In the report, J.P. Morgan commented, "We believe the combination of an asset-light business model with strong free cash flow, modest revenue growth and margin expansion in its chemicals and intermodal tank businesses, and expansion of its energy logistics footprint (including recently completed acquisitions) should support attractive EPS growth and upside for QLTY stock in '12. While QLTY faces risks such as the impact of low natural gas prices on its Marcellus activity, the diversity of potential drivers gives us confidence that QLTY can deliver solid EPS growth in '12 and '13."
Quality Distribution is currently trading at $12.09.
Latest Ratings for QLTY
|Nov 2014||Stifel Nicolaus||Upgrades||Hold||Buy|
|Nov 2014||Credit Suisse||Maintains||Neutral|
|Nov 2014||Bank of America||Maintains||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.