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UPDATE: Oppenheimer Initiates Lehigh Gas Partners LP at Perform on Gasoline Consumption Outlook

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Oppenheimer initiated coverage on Lehigh Gas Partners LP (NYSE: LGP) with a Perform rating.

Oppenheimer noted, "We are initiating coverage of Lehigh Gas Partners LP (LGP) with a Perform rating, driven primarily by a more bearish outlook on US gasoline consumption growth. However, we believe the company's distributions are secure and could experience upside with success from its acquisition strategy. LGP is a wholesale distributor of motor fuels, with primary exposure to the Northeast region. The company's growth strategy is derived from additional retail site acquisitions as well as increasing its fuel sales volumes."

Lehigh Gas Partners LP closed at $20.43 on Thursday.

Latest Ratings for LGP

DateFirmActionFromTo
Sep 2014Bank of AmericaInitiates Coverage OnBuy
Aug 2014Ladenburg ThalmannDowngradesBuyNeutral
Aug 2014WunderlichMaintainsBuy

View More Analyst Ratings for LGP
View the Latest Analyst Ratings

 

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Posted-In: OppenheimerAnalyst Color Initiation Analyst Ratings

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