Citi Downgrades K-Sea Transportation Partners (KSP) to Hold
More News related to KSP
- K-SEA Transportation (KSP) Director Buys 20K Shares
- Raymond James Downgrades K-Sea Transportation Partners (KSP) to Underperform
- Unusual 11 Mid-Day Movers 10/29: GIGA, REV, GKK, TBL Higher; TSPT, CPF, KSP, CYTK Lower
- Citi Downgrades K-Sea Transportation Partners (KSP) to Sell
- Morning Movers 10/29: ROIAK, GIGA, HS, TBL, KDN, CATM Higher; TSPT, CPF, CYTK, KSP, FSLR, CLUB, PODD Lower
Citi downgrades K-Sea Transportation Partners (NYSE: KSP) from Buy to Hold. Price target lowered from $25.50 to $21.
Citi analyst says, "We are downgrading KSP to Hold/High Risk based on: 1) higher spot-market exposure going forward, 2) weak demand for refined products over the next 12 months which could pressure spot-market rates even further, 3) tight distribution coverage, 4) high leverage which may prompt further equity issuances, and 5) recent operating underperformance."
K-Sea Transportation Partners L.P. is a provider of marine transportation, distribution and logistics services for refined petroleum products in the United States.
Related Categories
DowngradesStocks Mentioned
+0.32Related Entities
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!
