NuStar Energy downgraded to Underperform from Outperform at Credit Suisse Credit Suisse downgraded NuStar based on deterioration in its asphalt and fuels marketing segment and concerns regarding distribution coverage. Price target lowered to $44 from $64.
NuStar Energy sees FY15 Pipeline EBITDA $25M-$40M higher than last year Cites reduced volume projections. Sees FY15 Fuels Marketing EBITDA $20M-$30M. Sees FY15 CapEx $430M-$450M, which include internal growth projects and acquisition spending. Sees FY15 reliability capital spending $35M-$45M.