Tortoise North American Energy To Benefit From Deployment Of New Capital

Analysts at Wunderlich Securities upgrade Tortoise North American Energy Corp TYN from "hold" to "buy." The target price for TYN is set to $26. According to Wunderlich Securities, “We are raising all of our master limited partnership closed end funds to buy after a new MLP asset manager completed a $1.1 billion initial public offering for a closed-end fund dedicated to investing in the sector. We anticipate that fund flows, and the anticipation of these fund flows by investors, are likely to lift the MLP sector higher in the short run as this capital is deployed. We'd get ahead of the capital, all things being equal.” “We view TYN as suitable for fixed income investors seeking a stable distribution,” the analysts say. More Analyst Ratings here.