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UPDATE: Goldman Sachs Initiates Delek Logistics Partners at Buy on Growth Visibility

Related DKL
UPDATE: Bank of America Initiates Delek Logistics at Buy on Solid Assets
Delek Logistics Partners, LP Prices 8M Unit IPO at $21/Unit

Goldman Sachs initiated coverage on Delek Logistics Partners (NYSE: DKL) with a Buy rating and a $26 price target.

Goldman Sachs noted, "DKL's crude and refined product assets generate stable cash flows underpinned by long-term contracts with minimum volume commitments and inflation-indexed fee escalators. The Right of First Offer (ROFO) for assets currently held by its parent enhances future distributable cash flow growth visibility and provides meaningful potential upside to our estimates. DKL has an attractive 7.0% upfront yield and a strong balance sheet with a 2.3X Debt/EBITDA ratio."

Delek Logistics Partners closed at $22.16 on Monday.

Latest Ratings for DKL

Aug 2017BarclaysMaintainsEqual-Weight
Nov 2016Wells FargoUpgradesMarket PerformOutperform
Oct 2016Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for DKL
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Posted-In: Goldman SachsAnalyst Color Initiation Intraday Update Analyst Ratings


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