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Fly News Breaks for March 8, 2019
BPL
Mar 8, 2019 | 06:15 EDT
UBS analyst Shneur Gershuni last night upgraded Buckeye Partners to Buy from Neutral and raised his price target for the shares to $36 from $33. After reviewing the company's annual report, the analyst sees better leverage metrics for Buckeye relative to what he previously thought. He now estimates Buckeye Partners ending 2019 at 4.2 times leverage with the ability to self-fund more than 30% of its growth capex via retained cash flow. Further, Gershuni sees an upward earnings trend beginning in the second half of 2019 into 2020 due to a better storage environment.
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