Market Overview

UPDATE: Citigroup Raises PT to $33 on Rose Rock Midstream on Strong Quarter

Share:
Related RRMS
SemGroup Corporation to Build Maurepas Pipeline
Benzinga's Top Upgrades

Citigroup reiterated its Buy rating on Rose Rock Midstream (NYSE: RRMS) and increased its price target from $31.50 to $33.

Citigroup commented, "We continue to recommend RRMS to investors as we believe that the partnership is well-positioned for distribution growth driven by an attractive suite of organic growth projects, drop-down opportunities and low-leverage while mgmt team is executing well on its strategy. Our new TP of $33.00 is based on the partnership achieving an annualized distribution of $1.79/unit 12-months from now and units trading with a yield of 5.50%."

Rose Rock Midstream closed at $27.41 on Monday.

Latest Ratings for RRMS

DateFirmActionFromTo
Mar 2015MLVUpgradesBuy
Jan 2015RBC CapitalInitiates Coverage onOutperform
Dec 2014BarclaysMaintainsOverweight

View More Analyst Ratings for RRMS
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (RRMS)

Around the Web, We're Loving...

Get Benzinga's Newsletters