UPDATE: Credit Suisse Initiates Outperform, $35 PT on Enbridge Energy Partners on Attractive Share Valuation
Credit Suisse initiated coverage on Enbridge Energy Partners (NYSE: EEP) with an Outperform rating and a price target of $35 a share.
Credit Suisse commented, "We are initiating coverage of EEP with an Outperform rating and a $35 target price. EEP is an investment-grade-rated, large-cap MLP with a well-entrenched asset footprint and is the leading transporter of Canadian crude oil (roughly 60%) to the United States. In addition to its dominant Canadian position, EEP is also the leading transporter of crude out of the prolific Bakken Shale play."
Enbridge Energy Partners closed at $30.13 on Friday.
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Tags: Credit Suisse