Market Overview

UPDATE: Citigroup Raises PT to $38 on Genesis Energy on Growth Outlook

Share:
Related GEL
Benzinga's Top Upgrades, Downgrades For May 8, 2017
12 Biggest Mid-Day Losers For Tuesday

Citigroup reiterated its Buy rating on Genesis Energy (NYSE: GEL) and increased its price target from $34 to $38.

Citigroup commented, "We continue to view GEL as an attractive investment opportunity at current levels as it is well positioned to benefit from a unique combo of volume growth, margin expansion, and high-return investment opportunities. Our outlook is supported by GEL's uniquely situated crude oil logistics assets along the Gulf Coast that we believe will benefit from supply growth out of the Eagle Ford shale play and the continued need for incremental crude oil transportation assets that are currently experiencing very high utilization rates and attractive margins."

Genesis Energy closed at $32.62 on Monday.

Latest Ratings for GEL

DateFirmActionFromTo
May 2017Credit SuisseUpgradesNeutralOutperform
Feb 2017Capital One FinancialDowngradesOverweightEqual-Weight
Feb 2017RBC CapitalDowngradesOutperformSector Perform

View More Analyst Ratings for GEL
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (GEL)

View Comments and Join the Discussion!