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ANDX

Andeavor Logistics

$40.21

0.44 (1.11%)

, MPLX

MPLX

$34.10

1.1 (3.33%)

08:04
11/06/18
11/06
08:04
11/06/18
08:04

Andeavor Logistics price target lowered to $47 from $51 at RBC Capital

RBC Capital analyst TJ Schultz lowered his price target on Andeavor Logistics (ANDX) to $47 and kept his Sector Perform rating to reflect the continued uncertainty around its combination plans with MPLX (MPLX). The analyst notes that the investment focus on the stock falls around the recent combination of Marathon Petroleum (MPC) and Andeavor (ANDV) and the company's "long-term viability as a standalone". Schultz adds that the potential combination could result in Andeavor Logistics being acquired by or being the acquirer of MPLX.

ANDX

Andeavor Logistics

$40.21

0.44 (1.11%)

MPLX

MPLX

$34.10

1.1 (3.33%)

MPC

Marathon Petroleum

$69.76

0.24 (0.35%)

ANDV

Andeavor

$0.00

(0.00%)

  • 07

    Nov

ANDX Andeavor Logistics
$40.21

0.44 (1.11%)

10/23/18
RAJA
10/23/18
DOWNGRADE
RAJA
Market Perform
Andeavor Logistics downgraded to Market Perform at Raymond James
07/18/18
BOFA
07/18/18
DOWNGRADE
BOFA
Underperform
Andeavor Logistics downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Dennis Coleman downgraded Andeavor Logistics (ANDX) to Underperform from Neutral and cut its price target to $42 from $47. Coleman said the partnership's growth options are limited going forward following the strategic combination of general partners Marathon Petroleum (MPC) and Andeavor (ANDV) and expects it to lag competitors.
08/07/18
MUFG
08/07/18
NO CHANGE
Target $52
MUFG
Neutral
Andeavor Logistics price target raised to $52 from $49 at MUFG
MUFG analyst Barrett Blaschke raised his price target on Andeavor Logistics to $52 and kept his Neutral rating after its Q2 results. The analyst cites the "completion of a major drop down, including the majority of the parent's remaining refinery logistics assets, the Conan crude oil gathering system in the Delaware Basin, the Rio pipeline connecting the Delaware Basin to Midland, and additional legacy Western Refining assets," with expectations of acquired assets to contribute up to $205M to 2019 EBITDA.
10/10/18
FBCO
10/10/18
INITIATION
Target $46
FBCO
Underperform
Andeavor Logistics initiated with an Underperform at Credit Suisse
Credit Suisse analyst Spiro Dounis initiated Andeavor Logistics with an Underperform rating and a price target of $46.
MPLX MPLX
$34.10

1.1 (3.33%)

10/10/18
FBCO
10/10/18
INITIATION
FBCO
Outperform
Credit Suisse bullish on select Oil Midstream stocks on valuation and output
As reported earlier, Credit Suisse analyst Spiro Dounis initiated coverage of 39 midstream oil market stocks, calling DCP Midstream (DCP), Cheniere Energy (LNG), Kinder Morgan (KMI), and MPLX (MPLX) his "top picks". The analyst that his generally "constructive view" is based on expectations of domestic oil and gas production remaining strong as well as his assessment of midstream stocks being "undervalued on several metrics". Dounis adds that he is especially positive on the stocks with leverage to the export market, anticipating "vast majority of marginal production" to clear through the exports. For DCP Midstream, the analyst is positive on the growth project backlog in the DJ and Permian Basin, while for Cheniere Energy, he expects the company's EBITDA and free cash flow generation to ramp up. For Kinder Morgan, Dounis sees a "compelling" capital return story trading at a discount thanks to the company's $6B project backlog expected to drive a 25% distribution growth with an eye on exports.
10/10/18
FBCO
10/10/18
INITIATION
Target $45
FBCO
Outperform
MPLX initiated with an Outperform at Credit Suisse
Credit Suisse analyst Spiro Dounis initiated MPLX with an Outperform rating and a price target of $45.
10/08/18
GSCO
10/08/18
DOWNGRADE
Target $35
GSCO
Neutral
MPLX downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Michael Lapides downgraded MPLX to Neutral and lowered his price target for the shares to $35 from $41. Largely due to its increased scale, MPLX screens as having below-average distribution and EBITDA growth from 2019 to 2021, Lapides tells investors in a research note. He believes MPLX should trade at a premium multiple to the group but now sees greater upside elsewhere in the space.
07/18/18
JEFF
07/18/18
UPGRADE
Target $38
JEFF
Buy
MPLX upgraded to Buy from Hold at Jefferies
Jefferies analyst Christopher Sighinolfi upgraded MPLX to Buy and raised his price target for the shares to $38 from $36. The units are down 7% since early February and now offer an 8% 2019 yield, Sighinolfi tells investors in a research note. The analyst believes the return of ME1 to service and the pending in-service of ME2 "present benefits" to MPLX.
MPC Marathon Petroleum
$69.76

0.24 (0.35%)

10/19/18
GSCO
10/19/18
DOWNGRADE
Target $102
GSCO
Sell
Valero downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Neil Mehta downgraded Valero Energy (VLO) to Sell and lowered his price target for the shares to $102 from $124. The analyst sees we see 18% downside to 2019 consensus earnings estimates consensus levels given the company's less leverage to inland crude differentials versus tightening LLS-Maya trends and his lowered outlook for gasoline margins in the next twelve months. Mehta sees a better risk/reward profile on shares of Marathon Petroleum (MPC), which is on his firm's Americas Conviction List with a Buy rating.
10/02/18
GSCO
10/02/18
INITIATION
Target $107
GSCO
Conviction Buy
Marathon Petroleum reinstated with a Conviction Buy at Goldman Sachs
Goldman Sachs analyst Neil Mehta reinstated coverage on Marathon Petroleum with a Conviction Buy and $107 price target to reflect the accretive Andeavor acquisition, exposure to discounted crude feedstocks, leverage to IMO 2020 sulfur regulations, robust capital returns, and attractive valuation.
10/03/18
LEHM
10/03/18
INITIATION
Target $125
LEHM
Overweight
Barclays reinstates Marathon Petroleum at Overweight, names Top Pick
Barclays analyst Paul Cheng reinstated coverage of Marathon Petroleum (MPC) with an Overweight rating and $125 price target. The analyst names Marathon his refining sector's Top Pick, replacing PBF Energy (PBF). With its refining geographic reach spanning coast to coast and consisting of "sufficient critical mass" in each operating region, Marathon is well positioned to benefit whenever a bottleneck is developed, Cheng tells investors in a research note. The analyst believes successful refiners must have the flexibility and capability to take advantage of the country's "increasingly complex and volatile crude differential dynamics as well as the rapidly evolving global crude oil and refined product import and export markets."
10/11/18
TUDR
10/11/18
UPGRADE
TUDR
Buy
Marathon Petroleum upgraded to Buy from Hold at Tudor Pickering
ANDV Andeavor
$0.00

(0.00%)

08/14/18
RBCM
08/14/18
NO CHANGE
Target $151
RBCM
Sector Perform
Andeavor price target raised to $151 from $137 at RBC Capital
RBC Capital analyst Brad Heffern raised his price target on Andeavor (ANDV) to $151 after its "solid" Q2 earnings beat driven by stronger throughput margin. The analyst also notes that the company's strategic combination with Marathon Petroleum (MPC) remains on track to close on October 1st. Based on the current valuation of that acquisition relative to their previously agreed share exchange ratio, Heffern keeps his Sector Perform rating on Andeavor.
08/02/18
MZHO
08/02/18
INITIATION
Target $158
MZHO
Neutral
Andeavor initiated with a Neutral at Mizuho
Mizuho analyst Paul Sankey started Andeavor (ANDV) with a Neutral rating and $158 price target. The analyst believes Andeavor shares are pegged to Marathon Petroleum's (MPC) offer of 1.87 Marathon share or $152 cash.
06/29/18
USCA
06/29/18
DOWNGRADE
USCA
Hold
Andeavor downgraded to Hold from Buy at US Capital Advisors
05/18/18
TUDR
05/18/18
DOWNGRADE
TUDR
Hold
Andeavor downgraded to Hold from Buy at Tudor Pickering

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