UPDATE: Deutsche Bank Raises PT on Semgroup Corporation on Capacity Additions

Deutsche Bank maintained Semgroup Corporation

with a Buy rating and raised the price target from $56.00 to $60.00. Deutsche Bank analyst Curt Launer wrote, "SEMG via RRMS is the fourth largest holder of storage capacity at Cushing with about 7.2 million barrels currently. Capacity additions this year are expected to bring the total to 7.6 million. Importantly, SEMG holds enough undeveloped land at Cushing to add another 6 million barrels of capacity over time." Semgroup Corporation closed at $48.57 on Friday.