UPDATE: Citigroup Upgrades Alon USA Partners LP as Near-Term Volatility Presents an Opportunity
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
|Jul 2015||Macquarie||Initiates Coverage on||Neutral|
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