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.
News For NS From The Last 14 Days
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NuStar Energy upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded NuStar Energy citing valuation and expectations the company's divestitures will drive improved investor sentiment. The firm raised its price target for shares to $60 from $51.
NuStar Energy announces long-term agreements for light crude oil storage NuStar Energy announced that it has signed long-term agreements for light crude oil storage at its St. Eustatius terminal in the Caribbean and its Pt. Tupper terminal in Nova Scotia. In St. Eustatius, NuStar signed an agreement with a national oil company to lease 5M barrels of light crude oil storage. The agreement took effect March 1 and the first shipment is expected to arrive this week. In Pt. Tupper, the company re-signed a major U.S. oil company that will be leasing 3M barrels of light crude oil storage. This new agreement will go into effect on August 1, a day after the previous contract expires.