Market Overview

UPDATE: Bank of America Initiates Northern Tier Energy at Buy with $22 PO on Yield

Analyst Sees Oil Refiners Beating Short-Term Supply Crunch
Top 4 NYSE Stocks In The Oil & Gas Refining & Marketing Industry With The Lowest PEG Ratio
Terra Nitrogen: 8% Yielder Poised To Deliver Strong Returns Over The Next 12 Months (Seeking Alpha)

Bank of America initiated its coverage on Northern Tier Energy (NYSE: NTI) with a Buy rating and a price objective of $22 a share.

Bank of America noted, "NTI is the first refiner structured as a variable distribution MLP – a refiner that will distribute 100% of available cashflow to unit holders, enabling investors full leverage to seasonal margin fluctuations and crude differentials. While unit price valuation and volatility likely attract a different dynamic than ‘C' corp refining peers, we expect yield to help provide support during periods of seasonal weakness and at current levels of 13.5% based on 2013 distributable cash flow, looks attractive to us."

Northern Tier Energy closed at $18.30 on Friday.

Latest Ratings for NTI

Apr 2015JP MorganMaintainsNeutral
Nov 2014Credit SuisseMaintainsOutperform
Oct 2014CitigroupMaintainsBuy

View More Analyst Ratings for NTI
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Initiation Pre-Market Outlook Analyst Ratings


Related Articles (NTI)

Around the Web, We're Loving...

Get Benzinga's Newsletters