Jefferies Upgrades Columbia Pipeline Group (CPGX) to Buy

October 8, 2015 7:21 AM EDT
Get Alerts CPGX Hot Sheet
Price: $25.49 --0%

Rating Summary:
    1 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Jefferies upgraded Columbia Pipeline Group (NYSE: CPGX) from Hold to Buy with a price target of $26.00 (from $28.00).

Analyst Christopher Sighinolfi commented, "Amidst a broader midstream sector sell-off in the late Summer, shares of CPGX & CPPL have underperformed the AMZ on concerns of capital market risk and the perceived viability of its long-term, drop-down driven growth strategy; mgmt has made no change to its guidance or comments regarding company fundamentals. Accordingly, we have re-examined our CPGX & CPPL analysis and are upgrading CPGX to Buy, from Hold, but lowering our PT to $26, from $28."

For an analyst ratings summary and ratings history on Columbia Pipeline Group click here. For more ratings news on Columbia Pipeline Group click here.

Shares of Columbia Pipeline Group closed at $18.99 yesterday.

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