UPDATE: JP Morgan Initiates USA Compression Partners at Overweight on Yield, Valuation
JP Morgan initiated USA Compression Partners (NYSE: USAC) with an Overweight rating and a $20.00 price target.
JP Morgan said, "We are initiating coverage on USA Compression (USAC) with an Overweight rating and a 2013YE price target of $20. We believe that USAC's discounted valuation versus peers', combined with upper-single-digit distribution growth (supported by robust organic growth initiatives), will drive outperformance as the market gains comfort with USAC's execution and assigns a valuation closer to peers'."
USA Compression Partners closed at $17.95 on Friday.
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