Market Overview

UPDATE: Credit Suisse Upgrades Breitburn Energy Partners to Neutral on Accretive Acquisitions

Related BBEP
Benzinga's Top #PreMarket Losers
5 NASDAQ Basic Materials Stocks With The Highest Operating Margin
Top 10 MoPay SML Dividend Dogs: 66% To 216% Upsides And 77% To 248% Net Gains Come July 24, 2016 (Seeking Alpha)

Credit Suisse raised its rating on Breitburn Energy Partners (NASDAQ: BBEP) from Underperform to Neutral while increasing its price target from $18 to $19.

Credit Suisse noted, "In our view, BBEP's execution of ~$600mm of accretive acquisitions in 2012 has improved the sustainability of the company's distribution longer term. That said, we do remain concerned about the sustainability of distribution growth owing to the impact of lower commodity and hedge prices. With units currently yielding 10.2% (slightly above the upstream MLP peer median), we believe this risk is fairly reflected in the market. Our $19 target prices (from $18) offers a 15.0% total return potential over the next 12 months."

Breitburn Energy Partners closed at $18.16 on Wednesday.

Latest Ratings for BBEP

Jun 2015BarclaysMaintainsEqual-weight
Jun 2015WunderlichInitiates Coverage onHold
Jun 2015Morgan StanleyInitiates Coverage onEqual-weight

View More Analyst Ratings for BBEP
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Upgrades Intraday Update Analyst Ratings


Related Articles (BBEP)

Get Benzinga's Newsletters