Wunderlich Securities Reiterates Hold And $37 PT On Spectra Energy (SE)
Wunderlich Securities reiterated its Hold rating and $37 price target on Spectra Energy (NYSE: SE) in a research report published today.
In the report, Wunderlich states, "Spectra Energy Partners, LP (SEP) reported solid results for 1Q11. The partnership's distribution growth over the next several years should be strong at an estimated 9.2% in 2011 and 8.4% in 2012. We have a Hold rating and a $37 price target for SEP. Our price target combined with SEP's current distribution implies a total return of 17% in 2011. Although we believe that at current levels the units are just a bit rich, we would continue to hold our positions and take advantage of the current yield and distribution growth over the next several years."
In yesterday's trading, Spectra's shares added 0.36% to their value to close the day at $28.13.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.