UPDATE: Credit Suisse Initiates MPLX LP at Buy on Attractive Total Return
Credit Suisse initiated coverage on MPLX LP (NYSE: MPLX) with a Buy rating and a $31 price target.
Credit Suisse noted, "Our positive outlook on the partnership is based on: 1) MPLX's access to a portfolio of eligible drop-down assets at its parent, Marathon Petroleum Corporation (MPC); 2) Strategically located assets near MPC refineries in the Midwest and Gulf Coast regions; 3) Stable fee-based cash flows with minimum volume commitments; and 4) Organic growth opportunities."
MPLX LP closed at $27.05 on Monday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.