UPDATE: Goldman Sachs Upgrades Niska Gas Storage Partners to Neutral on Reduced Distribution Cut Risk

In a report published Wednesday, Goldman Sachs analyst Theodore Durbin upgraded the rating on Niska Gas Storage Partners

from Sell to Neutral, and raised the price target from $11.00 to $15.00. In the report, Durbin noted, “We upgrade Niska Gas Storage (NKA) to Neutral from Sell, raise our 12-month yield-based target price from $11 to $15, and maintain our estimates. With risk of a distribution cut now largely off the table, we believe NKA valuation will re-rate closer to the MLP group average yield, and see limited catalysts for further downside. Since being added to the Sell List on November 5, 2012, NKA is up 10.8%, flat with the S&P 500. Over the past 12 months, NKA is up 33.1% vs. a 10.7% increase in the S&P 500.” Niska Gas Storage Partners closed on Tuesday at $12.56.