UPDATE: Stifel Upgrades CorEnergy Infrastructure Trust (CORR) to Buy

November 15, 2016 7:40 AM EST
Get Alerts CORR Hot Sheet
Price: $35.98 -0.83%

Rating Summary:
    3 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade CORR Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - November 15, 2016 9:31 AM EST)

Stifel upgraded CorEnergy Infrastructure Trust (NYSE: CORR) from Hold to Buy with a price target of $34.

"CorEnergy Infrastructure Trust, Inc. announced Ultra Petroleum’s subsidiary has agreed to assume the lease on CORR's Pinedale Liquids Gathering System without amendment. Management has consistently argued CORR’s Pinedale system is critical to Ultra’s ability to generate cash flow and today’s announcement is confirmation. We previously applied a 1x discount to our assumed 9.5x targeted multiple due to uncertainty around the Pinedale asset. Given today’s announcement, we are upgrading CORR to Buy and increasing our target price to $34.00 from $27," said analyst Selman Akyol.

For an analyst ratings summary and ratings history on CorEnergy Infrastructure Trust click here. For more ratings news on CorEnergy Infrastructure Trust click here.

Shares of CorEnergy Infrastructure Trust closed at $30.80 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Upgrades

Related Entities


Add Your Comment