Analyst Actions: NuStar Energy Upgraded at Credit Suisse; Shares Spike 5% in Midday Trading

By Staff,

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Shares of NuStar Energy LP ( NS ) are up 5% in midday trade to $41.01 after it was upgraded to a Neutral rating from Underperform at Credit Suisse.

The price target on the stock was left unchanged at $44 a share.

"Our concerns regarding the sustainability of NS' distribution are now reflected in the current unit price," the analysts said in a report. "While unclear as to the company's path forward (distribution cut vs. grow out of the current hole), we believe the units are fairly valued based upon the cash flow power of NS' underlying fee-based pipeline and storage assets"

NS is trading in a 52-week range of $38.43 - $62.64.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: NS

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