Loading...
Loading...
In a report published Monday, Citigroup analyst Mohit Bhardwaj upgraded the rating on
Alon USA Partners LPALDW 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in