Wells Fargo Downgrades Martin Midstream Partners (MMLP) to Market Perform

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Wells Fargo downgraded Martin Midstream Partners (NASDAQ: MMLP) from Outperform to Market Perform with a price target of $35.00 (from $35.00).

Analyst Ron Londe said, "We are downgrading our rating on the units of MMLP to Market Perform from Outperform. This change is based on the fact that the units are currently trading near our valuation range of $34-36. However, we remain
positive on the long-term outlook for the partnership given the recent/expected
growth spending and improved liquidity."

For an analyst ratings summary and ratings history on Martin Midstream Partners click here. For more ratings news on Martin Midstream Partners click here.

Shares of Martin Midstream Partners closed at $34.44 yesterday, with a 52 week range of $27.00-$37.91.

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