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

Related BBEP
UPDATE: Wunderlich Securities Reiterates On BreitBurn Energy Partners LP Following Acquisition News
Benzinga's M&A Chatter for Thursday July 24, 2014

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
Jul 2014CitigroupDowngradesBuyNeutral
Jul 2014Raymond JamesDowngradesOutperformMarket Perform
Jul 2014Stifel NicolausMaintainsBuy

View More Analyst Ratings for BBEP
View the Latest Analyst Ratings

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

 

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