We begin this morning with Teppco being downgraded by Wachovia to market perform from outpeform...note to Wachovia....you're a little late! Look for some pressure again but it could be all sold out after yesterday. It looks like dead money for awhile.
Some nice numbers by Atlas and Buckeye last night...should be moving today.
S&P reiterated on Teppco and maintained their $43 price target. I agree we may see a stock price that is stagnant for the next few months, but we'll keep collecting the $2.70, so I'll take S&P's advice and hold.
ReplyDeleteMeantime, PAA's numbers looked very impressive.
PAA and APL fire every time!
ReplyDeleteFrom Citigroup on TPP:
ReplyDeleteAt worst
we believe a potential distribution increase gets pushed back by a quarter.
Specifically we are maintaining our 2006 distribution estimate of $2.80 per
unit, and we reiterate our 1L (Buy/Low Risk) rating and our 12-month price
target of $43.00 per unit.