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UPDATE: Credit Suisse Upgrades CVR Refining LP to Outperform; Yield More Attractive Than Peers

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Credit Suisse upgraded CVR Refining LP (NASDAQ: CVRR) from Neutral to Outperform and raised the price target from $32.00 to $34.00.

Credit Suisse analyst Edward Westlake noted, "We raise our 2013 distribution forecast to $6.15/unit (vs. company guidance of $5.30-$6.30/unit) to account for 1Q13 guidance as well as our revised margin forecasts. Owners of CVRR benefit from a c19% 2013 yield (vs median MLP peer average of 13%) and a c10% mid-cycle yield based on WTI-Brent spreads that could prove conservative (industry consensus is $7-12/bbl in the long term)."

CVR Refining LP closed at $31.94 on Tuesday.

Latest Ratings for CVRR

DateFirmActionFromTo
Sep 2016Piper JaffrayMaintainsUnderweight
Sep 2016CitigroupMaintainsNeutral
Aug 2016Piper JaffrayMaintainsUnderweight

View More Analyst Ratings for CVRR
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Upgrades Analyst Ratings

 

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