Market Overview

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

Related BBEP
Mid-Morning Market Update: Markets Drop; FactSet Profit Meets Estimates
Morning Market Losers

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

DateFirmActionFromTo
Dec 2014RBC CapitalDowngradesOutperformSector Perform
Dec 2014WunderlichDowngradesBuyHold
Nov 2014CitigroupMaintainsNeutral

View More Analyst Ratings for BBEP
View the Latest Analyst Ratings

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

 

Related Articles (BBEP)

Around the Web, We're Loving...

Get Benzinga's Newsletters