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

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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

DateFirmActionFromTo
Apr 2016BarclaysAssumesEqual-weight
Apr 2016Piper JaffrayAssumesNeutral
Mar 2016JP MorganMaintainsNeutral

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

 

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