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NuStar Energy (NS -2.3%) dips on a downgrade to Underperform at Credit Suisse today, citing...

NuStar Energy (NS -2.3%) dips on a downgrade to Underperform at Credit Suisse today, citing deterioration in its asphalt and fuels marketing businesses and concerns over distribution coverage. The firm also slashed its price target to $44 from $64.
Comments (2)
  • Dividend Sleuth
    , contributor
    Comments (1919) | Send Message
     
    I think NS may have been "early" getting into the asphalt business and they are doing the prudent thing by increasing the fee-based petro transit percentage of their income. Credit Suisse is also doing the prudent thing to warn investors who may not keep up with the quarterly conference calls. After weighing everything, I did (what I hope is) the prudent thing by adding a few more shares on the dip. I'm long NS. I don't fault them for being "early" into asphalt. We are "late" spreading more asphalt on the deteriorating roads I see everywhere.
    26 Oct 2012, 04:16 PM Reply Like
  • rhiannion
    , contributor
    Comments (261) | Send Message
     
    Might need some of that asphalt in New Jersey - just a little bit.
    2 Nov 2012, 04:14 PM Reply Like
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