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UPDATE: Credit Suisse Raises PT to $54 on DCP Midstream Partners; Growth Outlook

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Credit Suisse raises its price target from $53 to $54 on Outperform-rated DCP Midstream Partners (NYSE: DPM) on anticipated share price growth.

Credit Suisse comments, "DPM is embarking on a period of transformative growth as it participates and aids its general partner in the completion of a ~$4b growth capex program through 2014. In our view, this process will not only enable DPM to deliver above average distribution growth over the medium term but to also create a platform for the partnership to deliver sustainable distribution growth over the long-term. Furthermore, we believe DPM has sustainable competitive advantages which include: (1) a large, supportive general partner, (2) upstream/downstream integration and (3) well established footprints in liquids-rich basins. In our view, DPM is a high-quality growth MLP that is poised to consistently deliver above average distribution growth and outperform over the long-term."

DPM closed at $42.63 on Wednesday.

Posted-In: Credit SuisseAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

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