UPDATE: Deutsche Bank Raises PT to $52 on Western Gas

Deutsche Bank raises its price target on Buy-rated Western Gas WES to $52, up $48, following the company's earnings call. Deutsche Bank says, "WES reported 4Q and full-year 2011 earnings and held a conference call yesterday. The reported results were in line with our estimates and are detailed in the models below. Of greatest significance, in our opinion, is that WES provided guidance for future distributions for the first time since becoming a public company. The distribution guidance of 16%-20% exceeds the growth rate we previously modeled of 15% for 2012 and 13% for 2013." WES closed at $45.79 a share on Wednesday.