Deutsche Bank Upgrades Buckeye (BPL) to Buy

November 5, 2012 8:13 AM EST
Get Alerts BPL Hot Sheet
Price: $65.98 +1.73%

Rating Summary:
    8 Buy, 9 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
Trade BPL Now!
Join SI Premium – FREE
Deutsche Bank upgraded Buckeye (NYSE: BPL) from Hold to Buy with a price target of $60.00.

The firm comments, "BPL has struggled this year with declines in natural gas storage rates, uncertainty in growth in its Pipeline & Terminals business and a products pipeline tariffs dispute that has resulted in a FERC show cause order. While these items are not complete, the combination of 3Q12 results being 13% above estimates, a distribution payout ratio of 1.19, a distribution increase at a 4.8% annual rate and the current yield of 8.4% support our increase in rating at this time. Our target price is derived both from the dividend discount model described below and an objective that BPL should trade to a 7% yield (10% premium to the group) and a $60 target price."

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

Shares of Buckeye closed at $49.46 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories


Related Entities

Deutsche Bank, Dividend

Add Your Comment