Market Overview

UPDATE: Credit Suisse Upgrades NuStar Energy to Neutral; Distribution Cut Priced In

Related NS
Earnings Scheduled For July 25, 2014
Target And Others Insiders Have Been Buying

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.

Posted-In: Credit SuisseAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (NS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters