UPDATE: Credit Suisse Downgrades MarkWest Energy Partners to Neutral on NGL Price Headwinds
Credit Suisse downgraded MarkWest Energy Partners (NYSE: MWE) from Outperform to Neutral and lowered the price target from $59.00 to $57.00.
Credit Suisse noted, "We are downgrading MarkWest Energy Partners (MWE) to Neutral and cutting our 2013 outlook ahead of its 4Q:12 earnings release (scheduled for Wednesday night). We believe there will be lowered guidance given sustained NGL price weakness, which will likely result in lower margins and throughput volumes on MWE's systems."
MarkWest Energy Partners closed at $55.48 on Tuesday.
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Tags: Credit Suisse