Barclays Maintains an 'Equalweight' on Buckeye (BPL); Acquisitions Should Drive 5% Growth

Barclays maintains an 'Equalweight' on Buckeye (NYSE: BPL) price target of $71.00.

Barclays analyst says, "Continue to expect 5% distribution CAGR supported by crude oil/refined product storage expansions. While distribution coverage will likely run a little thin in 2011 due to acquisition-related expenses and lower-than-expected gas storage results, we still maintain our 5.2% distribution growth estimate in 2011 and 5.2% CAGR through 2014. We believe BPL's terminal acquisitions create a favorable growth opportunity set and increase cash flow and geographic diversification."

For more ratings news on Buckeye click here and for the rating history of Buckeye click here.

Shares of Buckeye closed at $60.78 yesterday.

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