UPDATE: Bank of America Upgrades Genesis Energy Inc from Neutral to Buy

Bank of America has published a report on Genesis Energy

upgrading the company to Buy. In the report, Bank of America wrote, "We are upgrading GEL to Buy (from Neutral) on valuation after the recent sell-off. GEL is currently yielding 7.4% versus a 6.9% yield for the Alerian MLP Index (AMZ). We see GEL's valuation as more compelling post-pullback and supported by GEL's diverse business mix, fee-based revenue streams, and improving growth prospects." Bank of America upgraded Genesis Energy from Neutral to BUY with a price target maintained at $28.00. Genesis Energy closed Friday at $22.52.