Market Overview

UPDATE: Global Hunter Securities Upgrades Plains All American Pipeline to Buy

Related PAA
Plains All American Hikes Cash Distribution - Analyst Blog
Plains All American Pipeline Completes Merger of PAA Natural Gas Storage

Global Hunter Securities raised its rating on Plains All American Pipeline (NYSE: PAA) from Accumulate to Buy and raised its price target from $84 to $94.

Global Hunter Securities commented, "Q2:12 results were in line with previously increased guidance, representing a very strong quarter for the MLP. PAA continues to announce what we view to be attractive organic growth projects. These contracted and largely fee-based projects give us increased confidence that PAA will continue to operate at a distribution coverage ratio well in excess of what is necessary to comfortably run its business (1.5x expected for 2012)."

Plains All American Pipeline closed at $86.15 on Tuesday.

Posted-In: Global Hunter SecuritiesAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (PAA)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free