UPDATE - UBS Upgraded Genesis Energy LP (GEL) to Buy; Valuation Call
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Price: $15.82 +0.70%
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UPDATE - UBS upgraded Genesis Energy LP (NYSE: GEL) from Neutral to Buy. PT maintained at $27.
UBS analyst said, "GEL has an integrated and somewhat unique portfolio of assets that provides multiple services to crude oil and CO2 producers; refineries; mining; pulp and paper; and industrial and commercial users of refined products, CO2 and other industrial gases. GEL has predominantly fixed margin businesses and its services to refiners give it some indirect exposure to fast growing, developing economies outside the U.S."
"GEL has strong credit metrics, incl adj. debt/LTM EBITDA at 3.1x. Its distribution coverage ratio was 1.2x post-2Q. GEL has raised its distribution 23 consecutive quarters and we expect this trend to continue. In Dec 2010, GEL eliminated its IDRs to reduce capital costs and align the GP with LP holders."
To see more ratings changes on GEL, Click Here
UBS analyst said, "GEL has an integrated and somewhat unique portfolio of assets that provides multiple services to crude oil and CO2 producers; refineries; mining; pulp and paper; and industrial and commercial users of refined products, CO2 and other industrial gases. GEL has predominantly fixed margin businesses and its services to refiners give it some indirect exposure to fast growing, developing economies outside the U.S."
"GEL has strong credit metrics, incl adj. debt/LTM EBITDA at 3.1x. Its distribution coverage ratio was 1.2x post-2Q. GEL has raised its distribution 23 consecutive quarters and we expect this trend to continue. In Dec 2010, GEL eliminated its IDRs to reduce capital costs and align the GP with LP holders."
To see more ratings changes on GEL, Click Here
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