Capital One upgraded Genesis Energy (GEL) to Overweight from Equalweight with a price target of $15, down from $16. Looking through near-term transitory issues, the free cash flow thesis for Genesis remains, “although admittedly has been reduced and pushed to the right,” the analyst tells investors. A substantial drop in capex is still expected next year, coinciding with material growth in cash flows from ramping offshore volumes and continued strength in the marine segment, says the firm. Based on CapitalOne’s revised forecast, the second half of 2025 is now shaping up to be the point of inflection, adds the firm, which expects the story to “migrate more toward one of capital returns as the year progresses.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on GEL:
- Genesis Energy’s Q3 2024: Navigating Challenges
- Genesis Energy reports Q3 EPS (32c) vs. 29c last year
- Genesis Energy price target raised to $16 from $15 at RBC Capital
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
