UGI upgraded to Buy at Jefferies as reported KKR interest adds upside case
Jefferies upgraded UGI to Buy from Hold and set a $43 price target, raised from $40. The firm called the reported take-private bid "thesis-changing" and said upside is no longer dependent on an AmeriGas recovery.
UGI Corp. NYSE:UGI rose 1% in Wednesday trading after Jefferies raised the electricity and gas distributor to Buy from Hold. The brokerage lifted its price target to $43 from $40, saying the reported take-private bid is "thesis-changing" and means the upside case is no longer tied to an AmeriGas recovery or greater visi…