UBS Starts PetroLogistics LP (PDH) at Buy; Long-Term Story Intact, Use Weakness as Opportunity

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UBS initiates coverage on PetroLogistics LP (NYSE: PDH) with a Buy. PT $16.50.

Analyst, Gregg A. Goodnight, said, "Since the IPO on 5/12/12, the stock has been under pressure with falling global oil prices and a temporary inventory correction resulting in contract propylene prices down $0.255/lb or 34% in the last two months. However, we believe that longer term, high oil prices and the North American shale gas story supports the company’s performance."

For an analyst ratings summary and ratings history on PetroLogistics LP click here. For more ratings news on PetroLogistics LP click here.

Shares of PetroLogistics LP closed at $15.15 yesterday, with a 52 week range of $13.06-$17.06.

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