UPDATE: Credit Suisse Raises PT on MarkWest Energy Following Addition to Focus List
In a report published Tuesday, Credit Suisse analyst John Edwards reiterated an Outperform rating on MarkWest Energy (NYSE: MWE), and raised the price target from $73.00 to $83.00.
In the report, Credit Suisse noted, “With the publication of this note, the Credit Suisse Investment Policy Committee (IPC) is adding MWE to the U.S. Focus List. Moving MWE to "Core Holding" Status: We continue to view MWE as one of the best MLPs in the gas processing subsector and for the first time since picking up coverage on MWE over 5 year ago, we are moving MWE to ‘core holding' status for MLP portfolios. MWE's roughly 1.6 Bcf/d of processing and 60,000 bbl/d of fractionation capacity in the Marcellus is expanding to ~3.3 Bcf/d and 175,000 Bbl/d of fractionation by YE14. In the Utica it's even better - processing capacity goes from 185mmcf/d to nearly 1bcf/d and fractionation will reach 100,000bbl/d.”
MarkWest Energy closed on Monday at $67.25.
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