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