Bank of America has published a report on Genesis Energy GEL upgrading the company to Buy.
In the report, Bank of America wrote, "We are upgrading GEL to Buy (from Neutral) on valuation after the recent sell-off. GEL is currently yielding 7.4% versus a 6.9% yield for the Alerian MLP Index (AMZ). We see GEL's valuation as more compelling post-pullback and supported by GEL's diverse business mix, fee-based revenue streams, and improving growth prospects."
Bank of America upgraded Genesis Energy from Neutral to BUY with a price target maintained at $28.00. Genesis Energy closed Friday at $22.52.
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Posted In: Analyst ColorUpgradesAnalyst RatingsBank of AmericaEnergygenesis energyOil & Gas Refining & Marketing
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