UBS Maintains a 'Buy' on Plains All American (PAA); Proving Core Holding Status - A Top MLP Pick
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Price: $23.90 +1.92%
Rating Summary:
18 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Plains All American (NYSE: PAA) price target raised from $71 to $85.
UBS analyst says, "PAA adjusted EPU of $1.65 surpassed consensus $1.58, as did adjusted EBITDA of $471 MM vs. Street $442...2012 distribution growth was reiterated at 8-9%. In addition to updating our distributable cash flow for 2012, we are upping our 2013-16 distribution increases to 5%+ per annum (previously 2-3%) in recognition of likely returns on PAA’s capex spend in 2010-2011, its superior growth profile, ability to execute, and updated capex/acquisition guidance. We are also increasing our PT to $85 to better reflect our updated assumptions."
"PAA Remains One of Our Top MLP Picks: We consider PAA a core holding given its diversified asset base (which generates predominantly fee-based revenues), investment-grade balance sheet, strong management team, execution history and its outlook for future distribution growth."
For an analyst ratings summary and ratings history on Plains All American click here. For more ratings news on Plains All American click here.
Shares of Plains All American closed at $79.03 yesterday.
UBS analyst says, "PAA adjusted EPU of $1.65 surpassed consensus $1.58, as did adjusted EBITDA of $471 MM vs. Street $442...2012 distribution growth was reiterated at 8-9%. In addition to updating our distributable cash flow for 2012, we are upping our 2013-16 distribution increases to 5%+ per annum (previously 2-3%) in recognition of likely returns on PAA’s capex spend in 2010-2011, its superior growth profile, ability to execute, and updated capex/acquisition guidance. We are also increasing our PT to $85 to better reflect our updated assumptions."
"PAA Remains One of Our Top MLP Picks: We consider PAA a core holding given its diversified asset base (which generates predominantly fee-based revenues), investment-grade balance sheet, strong management team, execution history and its outlook for future distribution growth."
For an analyst ratings summary and ratings history on Plains All American click here. For more ratings news on Plains All American click here.
Shares of Plains All American closed at $79.03 yesterday.
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