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Calumet Specialty Products Partners LP Message Board

  • ackpfft ackpfft Sep 24, 2013 3:25 PM Flag

    Creit Suisse downgrade

    This is probably impacting the price...

    Calumet Specialty Products Partners was downgraded by research analysts at Credit Suisse from a “neutral” rating to an “underperform” rating in a report released on Tuesday. They currently have a $31.00 price objective on the stock, down from their previous price objective of $33.00. Credit Suisse’s target price suggests a potential upside of 3.68% from the company’s current price.

    The report indicated the downgrade is based on weakening in their margin forecast.
    1) Rising prices on light crude inputs
    2) Falling prices on products (especially asphalt) pressuring margins further.
    3) Slowing/stalled distribution growth due to fall distribution coverage.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Seriously stupid to listen to 'analysts' that is why they get paid a #$%$ $50K salary and hate their jobs and their life, not because they can forecast the future, but because they have to pump out so much garbage a quarter or they get fired. Look at the balance sheet, read up on what this company is all about and their great management and BUY hand over fist. Don't be scared out of your position by nickle grinding shorts. Long and Strong.

      Sentiment: Strong Buy

    • CS is way off base by saying the crude input costs are increasing. CLMT has a $30 differential between WCS and WTI, and a $7 discount to WTI on the rest of their Bakken/Canadian Light feedstock, with Group 3 margins the highest in the country and growing due to other refinery shutdowns. Read the commentary on the NTI board. GS has a $30 price target on NTI due to a glut of Bakken oil looking for a home. CLMT's source of oil for their Superior refinery is the same as NTI.

    • On the last earnings call management indicated that they pushed through pricing increases on their products. Oil prices are falling now, though they did spike up. I thought the spread between WTI and Brent was more important than actual price levels? The refinery is back up and crack spreads are starting to widen. Don't get the analysis.

      Sentiment: Hold

    • Downgrade - good. Buy some more. Dividend payer as these prices = great yield. Earn a good income and wait for shares to appreciate - simply the best of both worlds.....

 
CLMT
32.29+0.81(+2.57%)Jul 11 4:00 PMEDT

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