Global Partners LP Rating Increased to Buy at Merrill Lynch (GLP)
Global Partners LP (NYSE:GLP) was upgraded by analysts at Merrill Lynch to a “buy” rating in a research report issued to clients and investors on Friday, Analyst Ratings Network reports.
A number of other analysts have also recently weighed in on GLP. Analysts at Bank of America Corp. upgraded shares of Global Partners LP from a “neutral” rating to a “buy” rating in a research note to investors on Friday. Separately, analysts at MLV Capital initiated coverage on shares of Global Partners LP in a research note to investors on Monday, December 2nd. They set a “hold” rating on the stock. Finally, analysts at Zacks upgraded shares of Global Partners LP from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 9th. They now have a $34.10 price target on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Global Partners LP has a consensus rating of “Hold” and an average price target of $36.70.
Shares of Global Partners LP (NYSE:GLP) traded up 2.44% on Friday, hitting $36.15. The stock had a trading volume of 34,320 shares. Global Partners LP has a 52 week low of $25.33 and a 52 week high of $40.99. The stock has a 50-day moving average of $34.86 and a 200-day moving average of $35.45. The company has a market cap of $985.7 million and a P/E ratio of 20.83.
Global Partners LP (NYSE:GLP) last released its earnings data on Thursday, November 7th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.38 by $0.29. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis.
Global Partners LP (NYSE:GLP) is a master limited partnership engaged in the wholesale and commercial distribution of refined petroleum products and, natural gas and provides ancillary services to companies.
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