Loading...
Loading...
In a report published Monday, J.P. Morgan & Co. reiterated its Neutral rating on Global Partners LP
GLP, and slightly raised its price target from $25.00 to $26.00.
J.P. Morgan noted, “We rate GLP Neutral with a YE13 $26/unit price target. While Global Partners engages in Liquids T&S, the partnership differs from sub-sector peers under coverage as marketing and taking title to the commodity represents a much more significant component to GLP's business model. Although we are encouraged to see increasing growth capex involving Bakken opportunities, we are on the sidelines due to 1) our concerns that the backwardated gasoline market (pressuring margins) will adversely impact near term results and 2) volatility in quarterly results.”
Global Partners LP closed on Friday at $25.98.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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