UPDATE: Bank of America Raises PO to $7 on Corenergy Infrastructure Trust on Outlook
Bank of America maintained Corenergy Infrastructure Trust (NYSE: CORR) with a Neutral and raises the price target from $6.50 to $7.00.
Bank of America said, "We bump our PO to $7 (from $6.50) as CORR continues to make progress on its new REIT strategy and given its recent distribution bump. We continue to see CORR's opportunity set as attractive, although we see execution risks around financing potential future growth. We continue to believe CORR deserves to trade at a higher yield than the MLP sector average given risks around consummating future M&A and CORR's moderate growth prospects offset by its relatively stable cash flow streams."
Corenergy Infrastructure Trust closed at $6.87 on Wednesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.