Market Overview

UPDATE: Credit Suisse Downgrades NuStar Energy LP to Underperform; Distribution at Risk

Share:
Related NS
Morgan Stanley Raises Price Target On NuStar Energy LP Following Solid 4Q14
Earnings Scheduled For January 30, 2015
InsiderInsights.com Daily Round Up 3/3/15: NS, WMS, OPK, CAS (Seeking Alpha)

Credit Suisse downgraded NuStar Energy LP (NYSE: NS) from Neutral to Underperform and lowered the price target from $49.00 to $47.00.

Credit Suisse commented, "We believe NS' distribution is once again at risk to a cut following TexStar's termination of the NGL acquisition. In our view, the crude AND NGL acquisitions were essential to ensuring NS' ability to cover its distribution by 2014. Based on our estimates, NS will not cover its distribution until 2016. Given the material impact of this failed transaction, we expect units to once again reflect the risk of a distribution cut."

NuStar Energy LP closed at $50.50 on Friday.

Latest Ratings for NS

DateFirmActionFromTo
Feb 2015Credit SuisseDowngradesOutperformNeutral
Jan 2015CitigroupMaintainsNeutral
Jan 2015JP MorganMaintainsOverweight

View More Analyst Ratings for NS
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Analyst Ratings

 

Related Articles (NS)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→