UPDATE: UBS Upgrades Western Gas Partners (WES) to Buy; Grab Shares On The Dip
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Price: $61.20 +0.31%
Rating Summary:
8 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
8 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade WES Now!
(Updated - June 28, 2012 10:36 AM EDT)
UBS upgraded Western Gas Partners (NYSE: WES) from Neutral to Buy. PT unchanged at $48.
Analyst, Ronald J. Barone, said, "Given WES’s recent relatively stable unit price vs. peers and macro uncertainties, we view its recent offering of 5 MM units as opportunistic. With >$200 MM in cash on hand and ample liquidity following last week’s debt offering (terming out existing debt), WES remains in a strong financial position."
Barone also noted that Western Gas Partners has made dropdown/acquisitions within 5 months of an equity issuance...and says if/when the next one is announced, it could be a catalyst for shares. Also, Barone thinks any share weakness from Q2 hurdles is a further opportunity to accumulate shares.
For an analyst ratings summary and ratings history on Western Gas Partners click here. For more ratings news on Western Gas Partners click here.
Shares of Western Gas Partners closed at $43.16 yesterday, with a 52 week range of $30.75-$47.97.
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UBS upgraded Western Gas Partners (NYSE: WES) from Neutral to Buy. PT unchanged at $48.
Analyst, Ronald J. Barone, said, "Given WES’s recent relatively stable unit price vs. peers and macro uncertainties, we view its recent offering of 5 MM units as opportunistic. With >$200 MM in cash on hand and ample liquidity following last week’s debt offering (terming out existing debt), WES remains in a strong financial position."
Barone also noted that Western Gas Partners has made dropdown/acquisitions within 5 months of an equity issuance...and says if/when the next one is announced, it could be a catalyst for shares. Also, Barone thinks any share weakness from Q2 hurdles is a further opportunity to accumulate shares.
For an analyst ratings summary and ratings history on Western Gas Partners click here. For more ratings news on Western Gas Partners click here.
Shares of Western Gas Partners closed at $43.16 yesterday, with a 52 week range of $30.75-$47.97.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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