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

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Oppenheimer: The Party In Energy Is Over For Now
UPDATE: Oppenheimer Initiates Coverage on Genesis Energy LP on Fair Valuation

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
Mar 2015CitigroupMaintainsNeutral
Feb 2015BarclaysMaintainsEqualweight
Dec 2014BarclaysMaintainsEqual-weight

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