Barclays Maintains an 'Equalweight' on Global Partners, L.P. (GLP); Lower Margins More Than Offset Higher Volumes
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Price: $50.38 -0.38%
Rating Summary:
2 Buy, 2 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 2 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Global Partners, L.P. (NYSE: GLP), PT $27.
Barclays analyst says, "GLP continues to diversify its product mix towards transportation fuels, but near-term market environment is narrowing margins. While we believe GLP's long-term growth prospects are improving due to acquisitions made in 2010, near-term unfavorable market conditions and higher working capital will restrain distribution growth a little."
"We are fine-tuning our 2011 distribution growth estimate from 3.3% to 2.3% to reflect unfavorable near-term margin conditions. Our 2012 distribution growth estimate remains unchanged at 2.8%, as we continue to expect contributions from the $248MM of acquisitions closed since June 2010 to support cash flow growth."
For more ratings news on Global Partners, L.P. click here and for the rating history of Global Partners, L.P. click here.
Shares of Global Partners, L.P. closed at $25.14 yesterday.
Barclays analyst says, "GLP continues to diversify its product mix towards transportation fuels, but near-term market environment is narrowing margins. While we believe GLP's long-term growth prospects are improving due to acquisitions made in 2010, near-term unfavorable market conditions and higher working capital will restrain distribution growth a little."
"We are fine-tuning our 2011 distribution growth estimate from 3.3% to 2.3% to reflect unfavorable near-term margin conditions. Our 2012 distribution growth estimate remains unchanged at 2.8%, as we continue to expect contributions from the $248MM of acquisitions closed since June 2010 to support cash flow growth."
For more ratings news on Global Partners, L.P. click here and for the rating history of Global Partners, L.P. click here.
Shares of Global Partners, L.P. closed at $25.14 yesterday.
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