UPDATE: Credit Suisse Upgrades NuStar Energy to Neutral; Distribution Cut Priced In
Credit Suisse raised its rating on NuStar Energy (NYSE: NS) from Underperform to Neutral and reiterated its price target at $44.
Credit Suisse said, "Our concerns regarding the sustainability of NS' distribution are now reflected in the current unit price. While unclear as to the company's path forward (distribution cut vs. grow out of the current hole), we believe the units are fairly valued based upon the cash flow power of NS' underlying fee-based pipeline and storage assets."
NuStar Energy closed at $39.07 on Monday.
Latest Ratings for NS
|Sep 2016||Mizuho||Initiates Coverage on||Neutral|
|Sep 2016||Stifel Nicolaus||Upgrades||Hold||Buy|
|Sep 2016||FBR Capital||Initiates Coverage on||Market Perform|
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