Buckeye Partners (BPL) is upgraded to Neutral from Sell with a $55 price target (up from $49) at...


Buckeye Partners (BPL) is upgraded to Neutral from Sell with a $55 price target (up from $49) at Citigroup, which points to the pipeline company's strong operational performance over the past two quarters (Q4). As BPL completes expansion of its Borco terminal in the Bahamas and reaching full benefits in 2014, Citi expects a return to historical annual distribution growth of 4%-5%.

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  • timestacker
    , contributor
    Comments (89) | Send Message
     
    Wonder if this has changed any:

     

    AM Standard & Poor's cuts its rating on Buckeye Partners (BPL) to BBB-, the brink of junk territory, noting the midstream energy company's weakening financial measures aren't expected to improve meaningfully until at least 2015. BPL's debt has increased significantly due to large acquisitions, and gross margins have not kept pace with the higher debt burden
    11 Feb 2013, 01:42 PM Reply Like
  • TGC004
    , contributor
    Comments (456) | Send Message
     
    During the Q4 conference call management addressed the BBB- issue. Here is the link

     

    http://seekingalpha.co...
    11 Feb 2013, 08:02 PM Reply Like
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