Scotiabank Thinks Andeavor Logistics LP’s Stock is Going to Recover


Scotiabank analyst Richard Roberts reiterated a Buy rating on Andeavor Logistics LP (ANDX) on November 15 and set a price target of $44. The company’s shares closed yesterday at $37.30, close to its 52-week low of $36.

According to TipRanks.com, Roberts is ranked #4331 out of 4897 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for Andeavor Logistics LP with a $45.50 average price target.

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Based on Andeavor Logistics LP’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $642 million and net profit of $170 million. In comparison, last year the company earned revenue of $444 million and had a net profit of $97 million.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ANDX in relation to earlier this year.

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Andeavor Logistics LP engages in the ownership, operation, development, and acquisition of crude oil and refined products logistics assets. It operates through the following segments: Terminalling and Transportation, Gathering and Processing, and Wholesale.

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