Credit Suisse Starts Buckeye (BPL) at Neutral
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Credit Suisse initiates coverage on Buckeye (NYSE: BPL) with a Neutral rating and a price target of $78.00.
Analyst John Edwards commented, "We are initiating coverage of Buckeye Partners (BPL) with a Neutral rating and $78 target price. BPL is a refined products MLP with pipeline and storage assets located across the United States and Caribbean. As an organization, BPL has a history of stable performance stretching back to 1886 and John D. Rockefeller’s Standard Oil Company. Since becoming the first pipeline MLP to go public in 1986, BPL has paid uninterrupted distributions to unitholders, weathered multiple industry cycles, and executed numerous strategic acquisitions building a premier refined products footprint with optionality to diversify into crude, condensate, and NGLs."
Shares of Buckeye closed at $70.29 yesterday.
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Related EntitiesCredit Suisse, Crude Oil
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