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Fly News Breaks for September 24, 2015
VLO, VLP
Sep 24, 2015 | 08:32 EDT
As noted earlier, SunTrust upgraded Valero Energy Partners (VLP) to Buy from Neutral. The firm says that the terminal assets drop-down from Valero Energy (VLO) to Valero Partners adds considerable scale to the partnership's portfolio of assets and slightly exceeds the firm's expectation of $1B this year. The firm adds that it now expects Valero Energy Partners' EBITDA from drop downs to reach $50M this year, versus its previous outlook of $30M. Target remains $52.
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