Delek Logistics Partners (DKL +3.5%) is initiated at BofA/Merrill and Goldman Sachs with Buy ratings (I, II). DKL transports and stores crude oil and marketing refined products produced by parent company Delek U.S. Holdings (DK 1.8%) and other customers. DKL shouldn't trade at a discount to peers, BofA writes, given DKL's traditional assets and material dropdown potential from DK.
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