UPDATE: UBS Upgrades Buckeye (BPL) to Buy

(updated to add analyst comment)

UBS analyst Shneur Gershuni upgraded Buckeye (NYSE: BPL) from Neutral to Buy with a price target of $36.00 (from $33.00).

The analyst comments "We see an upward earnings trend beginning in 2H19 into 2020 due to a better storage environment, as storage is expected to trough by mid-year and as growth projects come online. As a result of improving metrics, a better outlook for 2H19, and estimated IMO uplift of $27MM, combined with BPL trading roughly in-line with peers on EV/'20 EBITDA (despite a better growth outlook and lower leverage) we upgrade BPL to Buy."

For an analyst ratings summary and ratings history on Buckeye click here. For more ratings news on Buckeye click here.

Shares of Buckeye closed at $33.25 yesterday.

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