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UPDATE: Wunderlich Securities Cuts PT to $78 on EV Energy Partners on Discount Distribution Adjustments

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Wunderlich Securities reiterated its Buy rating on EV Energy Partners (NASDAQ: EVEP) but lowered its price target from $92 to $78.

Wunderlich Securities said, "We are lowering our price target on EV Energy Partners, L.P. (EVEP) to $78/unit from $92/unit as we have updated our distribution discount model. We believe the partnership's operations and hedges can support the recent level of distribution increases for the next several years. At this point, most investors seemed focused on the Utica and it appears we are close to hearing a decision on the properties. We have a Buy rating on EV Energy's units."

EV Energy Partners closed at $58.92 on Wednesday.

Latest Ratings for EVEP

DateFirmActionFromTo
Jun 2015BairdMaintainsNeutral
Jun 2015Morgan StanleyInitiates Coverage onEqual-weight
Apr 2015RBC CapitalUpgradesSector PerformOutperform

View More Analyst Ratings for EVEP
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

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