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UPDATE: Citigroup Raises PT to $38 on Genesis Energy on Growth Outlook

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Citigroup reiterated its Buy rating on Genesis Energy (NYSE: GEL) and increased its price target from $34 to $38.

Citigroup commented, "We continue to view GEL as an attractive investment opportunity at current levels as it is well positioned to benefit from a unique combo of volume growth, margin expansion, and high-return investment opportunities. Our outlook is supported by GEL's uniquely situated crude oil logistics assets along the Gulf Coast that we believe will benefit from supply growth out of the Eagle Ford shale play and the continued need for incremental crude oil transportation assets that are currently experiencing very high utilization rates and attractive margins."

Genesis Energy closed at $32.62 on Monday.

Latest Ratings for GEL

DateFirmActionFromTo
Jan 2016Wells FargoDowngradesOutperformMarket Perform
Nov 2015BarclaysMaintainsEqual-weight
Oct 2015Janney CapitalInitiates Coverage onBuy

View More Analyst Ratings for GEL
View the Latest Analyst Ratings

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