UPDATE: Stifel Upgrades CorEnergy Infrastructure Trust (CORR) to Buy
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
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.
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
- UPDATE: Stifel Upgrades Abraxas Petroleum (AXAS) to Buy Amid Emerging Delaware Basin Potential
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
- Polaris Industries (PII) PT Raised to $85 at Stifel Ahead of 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!