Northland Capital Markets Downgrades Dakota Plains Holdings (DAKP) to Market Perform

Northland Capital Markets downgraded Dakota Plains Holdings (NYSE: DAKP) from Outperform to Market Perform with a price target of $1.60 (from $2.35) on an uncertain outlook.

Analyst Jeff Grampp commented, "We are downgrading DAKP to Market Perform from Outperform and decreasing our PT from $2.35 to $1.60 due to an increased level of uncertainty regarding oil transloading volumes. With Bakken production in decline and shippers less interested in longer term contracts, management backed away from previously issued 2015 guidance. While we believe there is long-term value in its facility, timing of when value can be realized is uncertain."

For an analyst ratings summary and ratings history on Dakota Plains Holdings click here. For more ratings news on Dakota Plains Holdings click here.

Shares of Dakota Plains Holdings closed at $1.49 yesterday.

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