Wunderlich Securities Initiates Coverage on Buckeye GP Holdings (BGH) with a Buy
More News related to BGH
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- Buckeye GP Holdings L.P. Reports 2009 Third Quarter Results and Increases Quarterly Distribution
- REMINDER: Buckeye Partners, L.P. & Buckeye GP Holdings L.P. to Hold Third-Quarter Conference Call Nov. 2, 2009
- Wunderlich Downgrades Buckeye Partners (BPL) to Hold; Prefer BGH
- Wunderlich Securities Upgrades Buckeye GP Holdings (BGH) to Buy
Wunderlich Securities initiates coverage on Buckeye GP Holdings (NYSE: BGH) with a Buy. Price target $25.
Wunderlich analyst says, "Our Buy rating is based on compelling valuation and supported by our conclusion that BPL will continue to grow its distribution in the mid-single digit range. Long term, however, we expect deterioration in refined products consumption due to higher product prices...Valuation compelling. We triangulate our $25.00 blended valuation of BGH units with a discounted distribution model (~$25), a sum-of-the-parts assessment (~$23), and an applied yield value (~$27). We believe that general partners such as BGH are largely undervalued in the current market relative to the continuation of growth at the underlying LPs, along with a return in capital access."
To see more analyst ratings on BGH Click Here.
Buckeye GP Holdings L.P. (BGH) is a master limited partnership. BGH owns 100% of Buckeye GP LLC (Buckeye GP), which is the general partner of Buckeye Partners, L.P. (the Partnership or Buckeye). MainLine Management LLC, a limited-liability company (MainLine Management), is the general partner of BGH.
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