RBC Capital raised the firm’s price target on Genesis Energy (GEL) to $15 from $14 and keeps an Outperform rating on the shares. The firm is updating its model after the company’s recent earnings and the announced divestment of its soda ash business, which has simplified its business and capital structure as well as accelerated its cash flow inflection, the analyst tells investors in a research note.
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Read More on GEL:
- Wells upgrades Genesis Energy on ‘visible’ EBITDA growth
- Genesis Energy: Strong Buy Rating Backed by Promising EBITDA Growth and Robust Free Cash Flow Yield
- Genesis Energy upgraded to Overweight from Equal Weight at Wells Fargo
- Genesis Energy provides update on balance sheet simplification
- Genesis Energy Sells Alkali Business for $1.425 Billion
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