PetroLogistics (PDH +2.7%) is upgraded to Buy from Neutral at Citigroup, as the spread between...

|About: PetroLogistics LP (PDH)|By:, SA News Editor

PetroLogistics (PDH +2.7%) is upgraded to Buy from Neutral at Citigroup, as the spread between propane and topropylene has expanded to above $0.40/lb. from an average $0.31/lb. in Q4 due to the warmer-than-average winter. The firm lifts its NTM distribution/unit to $1.70 (+$0.20) driven by higher spreads and including an estimated $0.06 hit from the recent outage.