UPDATE - UBS Downgraded Holly Energy Partners (HEP) to Neutral; Valuation Call

UPDATE - UBS downgraded Holly Energy Partners (NYSE: HEP) from Buy to Neutral. PT raised from $58 to $64.

UBS analyst said, "Although we view HEP units as a low-risk way to gain exposure to crude oil and refined product transportation, terminaling, storage and throughput services in the Southwest and Rocky Mtn regions, HEP units have had a significant run (up 28% since end of Sept 2011). While we are increasing our 2012-13 EPU ests by 12% and 18%, resp, and see modest upside to our ‘12e distribution growth of 4.6%, we downgrade HEP to Neutral on valuation given our DDM model."

UBS raises FY11 EPS estimate from $2.51 to $2.79 and FY12 from $2.77 to $3.10.

To see more ratings on HEP, Click Here

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