Mar. 31, 2015, 3:22 PM
- World Point Terminals (WPT -4.6%) is downgraded to Underperform from Outperform with a $19 price target, cut from $24, at Credit Suisse, which cites a lack of commentary from management regarding future distribution increases.
- Credit Suisse says management communication with investors has been sparse, with conference calls held just once per year and no clarity on distribution growth; it sees increased risk regarding WPT's growth outlook and even whether or not distributions will be increased at all.
- The firm says it is conservatively reducing its distribution growth outlook, assuming no increases in 2015 and $0.05/year or ~4% growth per year thereafter.
World Point Terminals LP provides terminal facilities for storage of refined products and crude oil. It provides service to oil refiners, distributors, marketers and traders that require access to large, strategically placed storage capacity with access to transportation infrastructure and in... More
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Country: United States
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