Volte-Face Investments • 21 Comments
Fri, Jun. 10, 1:13 PM
- Ferrellgas Partners (FGP -4.2%) is downgraded to Sell from Neutral with a $15 price target, cut from $17, at UBS, citing uncertainty around its contract to supply Monroe's Trainer refinery and the associated risk over the outcome of negotiations, combined with its view of overall margin compression in retail propane.
- UBS also downgrades AmeriGas Partners (APU -4.7%) to Sell while keeping a $39 price target on the shares, saying the shares look relatively expensive at current levels and that its yield is lower than competitors.
- The firm downgrades Suburban Propane (SPH -5%) to Neutral from Buy with a $35 price target.
May 13, 2013, 5:45 PM
May 13, 2013, 4:31 PM
Suburban Propane Partners (SPH) -4.5% AH after announcing a public offering of 2.7M common units. SPH says it plan to use the proceeds to repay outstanding unsecured debt up to $135M, and any remainder for working capital and general partnership purposes.| May 13, 2013, 4:31 PM
Feb. 12, 2013, 10:57 AM
Suburban Propane Partners (SPH +1.7%) is upgraded to Buy from Neutral at BofA, which sees the potential for a resumption in distribution growth as SPH realizes synergies from the acquisition of Inergy's retail propane assets. The firm thinks SPH's current yield of 8.5% does not accurately reflect its growth potential, improving balance sheet and expected lack of equity issuance.| Feb. 12, 2013, 10:57 AM
Jul. 9, 2012, 9:12 AMUMC, the world's #2 chip foundry, is down 4.6% after reporting June sales of $310.3M, up just 0.9% M/M and 1.1% Y/Y. After shooting higher in March and April, UMC has now posted two straight quarters of minimal sales growth, as the chip industry's recovery slows to a crawl. It was reported recently that top rival TSMC's customers have become cautious about placing Q4 orders due to uncertain demand. | Jul. 9, 2012, 9:12 AM
Apr. 26, 2012, 9:55 AM