UPDATE: Morgan Stanley Upgrades Questar Corporation to Equal-Weight on Oil Pipeline Value Potential
Morgan Stanley upgraded Questar Corporation (NYSE: STR) from Underperform to Equal-weight and announced a $26.00 price target.
Morgan Stanley commented, "STR has initiated a strategic review of two of its pipeline assets: Overthrust and Southern Trails. We analyzed the Southern Trails pipeline, which could be converted from gas use to oil in order to transport crude oil from the Permian (West Texas) to Southern California. As part of its strategic review, we believe STR may be considering all options to create value. We focused on: 1) conversion and operation of the line, 2) joint venture partnership, and 3) outright pipeline sale. We note that discussions are in a preliminary stage and we expect to have more clarity following STR's earnings call."
Questar Corporation closed at $23.52 on Friday.
Latest Ratings for STR
|Apr 2014||Bank of America||Initiates Coverage on||Underperform|
|Apr 2014||Jefferies||Initiates Coverage on||Hold|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.