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UPDATE: Morgan Stanley Initiates Coverage on PetroLogistics

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Morgan Stanley initiates coverage with an Overweight rating on PetroLogistics (NYSE: PDH) and a price target of $17.

Morgan Stanley notes, “MLP PetroLogistics profits from the spread between propylene prices and propane costs. While this spread has narrowed recently, propane should remain weak through 1H13 and propylene should recover over the next six months. Our base-case scenario suggests an attractive ~11% NTM yield.”

PDH closed at $15.15 yesterday.

Latest Ratings for PDH

Jul 2014CitigroupMaintainsNeutral
Apr 2014Stifel NicolausMaintainsBuy
Dec 2013Morgan StanleyDowngradesOverweightEqual-Weight

View More Analyst Ratings for PDH
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Posted-In: Morgan StanleyAnalyst Color Initiation Analyst Ratings


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