Market Overview

UPDATE: Citigroup Upgrades Alon USA Partners LP as Near-Term Volatility Presents an Opportunity

Share:
Related ALDW
MKM: 8 MLPs To Buy And 4 To Sell
Klarman-Founded Baupost Group Increases Stake In eBay, Trims Micron and Citigroup In Q4
Statoil Gets Approval to Drill Wildcat at Gasol/Gretel Prospect (Zacks)

In a report published Monday, Citigroup analyst Mohit Bhardwaj upgraded the rating on Alon USA Partners LP (NYSE: ALDW) from Neutral to Buy, and raised the price target from $16.00 to $19.00.

In the report, Citigroup noted, “Expectations of faster growth from the Delaware and Midland basins in 2014 and slower ramp-up in the Permian pipeline projects have presented an opportunity for ALDW to capitalize over the near to intermediate term. This combined with lower allocation for annual catalyst and turnaround reserves by $15-$16 mm makes additional $0.25/share available for distribution. Our expectation for total distributions for 2015 has risen by 25-45 cents. We are raising our target price to $19 p/u and upgrading our rating to Buy/High Risk (1H).”

Alon USA Partners LP closed on Friday at $15.64.

Latest Ratings for ALDW

DateFirmActionFromTo
Aug 2015BarclaysMaintainsUnderweight
Jul 2015MacquarieInitiates Coverage onNeutral
May 2015BarclaysReinstatesUnderweight

View More Analyst Ratings for ALDW
View the Latest Analyst Ratings

Posted-In: Citigroup Mohit BhardwajAnalyst Color Upgrades Analyst Ratings

 

Related Articles (ALDW)

View Comments and Join the Discussion!

Get Benzinga's Newsletters