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UPDATE: Morgan Stanley Upgrades Energy Transfer Partners to Equal-Weight, Reiterates $50 PT

Related ETP
Energy Transfer Equity Announces Seventh Consecutive Quarterly Cash Distribution Increase, Raises $0.02125 To $0.38
Energy Transfer Partners Increases Cash Distribution By $0.02 to $0.955 For Q2 2014

In a report published Friday, Morgan Stanley upgraded its rating on Energy Transfer Partners (NYSE: ETP) from Underweight to Equal-Weight, and announced a $50.00 price target.

Morgan Stanley noted, “Following year-to-date underperformance (–12%), a solid 3Q (1.01x coverage at ETP), and completion of the SUN merger, we are upgrading ETP to Equal-weight as a path to distribution growth has finally emerged.”

Energy Transfer Partners closed on Thursday at $41.45.

Posted-In: Morgan StanleyAnalyst Color Upgrades Analyst Ratings

 

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