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Upgrade Alert for Buckeye Partners (BPL)

By David Diaz

Buckeye Partners (NYSE:BPL) was upgraded from Neutral to Buy at Goldman Sachs today. The stock closed yesterday at $69.35 on volume of 198,000 shares, below average daily volume of 478,000.

Buckeye Partners, L.P. is an independent pipeline common carrier of refined petroleum products. The Company receives petroleum products from refineries, connecting pipelines, and marine terminals and transports those products to other locations.

There is potential upside of 14.5% for shares of Buckeye Partners based on a current price of $69.35 and an average consensus analyst price target of $79.41. The stock should discover initial support at its 50-day moving average (MA) of $67.71 and subsequent support at its 200-day MA of $65.30.

In the past 52 weeks, Buckeye Partners share prices have been bracketed by a low of $47.07 and a high of $82.98 and closed yesterday at $69.35, 47% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend is tracking the current trend status for Buckeye Partners and will alert subscribers who have BPL in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades buckeye partners

Ticker(s): BPL