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Stock Market & Financial Investment News

News Breaks
February 19, 2014
11:33 EDTDVN, XTXI, XTEXCrosstex provides preliminary 2014 guidance for EnLink Midstream
Crosstex Energy, LP (XTEX) and Crosstex Energy, Inc. (XTXI) provided preliminary 2014 financial guidance for EnLink Midstream Partners, LP and EnLink Midstream, LLC, assuming the completion of the previously announced merger and contribution transactions in Q1. The projections provided herein include financial synergies. EnLink Midstream expects combined adjusted EBITDA of approximately $525M from the beginning of Q2 through Q4 with EnLink Midstream Partners, LP contributing approximately $375M of that adjusted EBITDA. On an annualized basis, these forecasts equate to approximately $700M of combined adjusted EBITDA at EnLink Midstream, including approximately $500M at EnLink Midstream Partners, LP. Projected distributions for fiscal year 2014 are expected to be approximately $1.47 per common unit at EnLink Midstream Partners, LP and approximately 80c per common unit at EnLink Midstream, LLC. The payment and amount of distributions will be subject to approval by the respective EnLink Midstream Boards of Directors and to economic conditions and other factors existing at the time of the determination of each quarterly distribution. Expected growth capital expenditures at EnLink Midstream Partners, LP in Q2-Q4 are approximately $300M. Expected maintenance capital expenditures in Q2-Q4 will be approximately $80M at EnLink Midstream and approximately $50M at EnLink Midstream Partners, LP.
News For XTEX;XTXI;DVN From The Last 14 Days
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January 30, 2015
10:00 EDTDVNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abbott (ABT) upgraded to Buy from Neutral at BofA/Merrill... BAE Systems (BAESY) upgraded to Buy from Hold at Cantor... Boston Scientific (BSX) upgraded to Outperform from Market Perform at BMO Capital... Bottomline Technologies (EPAY) upgraded to Buy from Hold at Craig-Hallum... Capital Bank (CBF) upgraded to Buy from Hold at Sandler ONeill... Centrica PLC (CPYYY) upgraded to Neutral from Sell at UBS... Chico's FAS (CHS) upgraded to Buy at Janney Capital... Coherent (COHR) upgraded to Buy from Neutral at B. Riley... Devon Energy (DVN) upgraded to Buy from Hold at Deutsche Bank... Farmers National Banc (FMNB) upgraded to Buy from Hold at Sandler O'Neill... Foot Locker (FL) upgraded to Overweight from Equal Weight at Barclays... Groupon (GRPN) upgraded to Buy from Sell at Ascendiant... JA Solar (JASO) upgraded to Outperform from Sector Perform at RBC Capital... K12 (LRN) upgraded to Outperform from Market Perform at Wells Fargo... PolyOne (POL) upgraded to Outperform at RW Baird... QLogic (QLGC) upgraded to Outperform from Market Perform at BMO Capital... SolarWinds (SWI) upgraded to Buy from Hold at Deutsche Bank... Stanley Black & Decker (SWK) upgraded to Equal Weight from Underweight at Barclays... SunPower (SPWR) upgraded to Outperform from Sector Perform at RBC Capital... TCF Financial (TCB) upgraded to Buy from Neutral at DA... Tempur Sealy (TPX) upgraded to Buy from Neutral at Nomura... Textron (TXT) upgraded at BofA/Merrill... Trina Solar (TSL) upgraded to Outperform from Sector Perform at RBC Capital... Umpqua Holdings (UMPQ) upgraded to Outperform from Market Perform at Keefe Bruyette... Valero Energy Partners (VLP) upgraded at Credit Suisse... Verifone (PAY) upgraded to Positive from Neutral at Susquehanna... Yahoo (YHOO) upgraded to Buy from Hold at Evercore ISI... Zimmer (ZMH) upgraded to Outperform at RW Baird.
07:19 EDTDVNDevon Energy upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Devon Energy to Buy citing the company's ability to grow production into a firming commodity price environment. The firm lowered its price target for shares to $63 from $68.
January 26, 2015
16:26 EDTDVNMarathon Oil, Cobalt, RSP Permian downgraded at UBS
UBS lowered its Brent and WTI forecasts to $52.50 and $49 from $67.50 and $62.50, respectively, and downgraded a number of names in the energy space in conjunction. Along with making changes to its oil price forecasts, UBS downgraded Marathon Oil (MRO), Cobalt (CIE) and RSP Permian (RSPP), all to Neutral from Buy. The firm also identified ConocoPhillips (COP), Devon Energy (DVN), Murphy Oil (MUR), Ultra Petroleum (UPL), Range Resources (RRC), Denbury Resources (DNR), and Magnum Hunter (MHR) as having high valuations, slowing growth and wide free cash flow deficits and said it was cautious on all of those names as well.
January 20, 2015
07:30 EDTDVNDevon Energy upgraded to Buy from Accumulate at KLR Group
Price target $81.

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