Market Overview

UPDATE: Goldman Sachs Upgrades MarkWest Energy on Multiple Positive Factors

Share:
Related MWE
Jim Cramer Gives His Opinion On MLP's
Benzinga's M&A Chatter for Monday July 13, 2015
Marathon Petroleum Q2 Earnings Miss, Revenues Beat - Analyst Blog (Zacks)

In a report published Wednesday, Goldman Sachs analyst Theodore Durbin upgraded MarkWest Energy (NYSE: MWE) from Neutral to Buy, and raised the price target from $70.00 to $81.00.

In the report, Goldman Sachs noted, “We upgrade MarkWest Energy Partners (MWE) to Buy from Neutral, with 22% total return upside to our new $81, 12-month price target. We believe MWE provides the best exposure to midstream growth in the Marcellus/Utica shale due to its scale and connectivity with multiple producer customers in the fast growing region. Given its established footprint, first-mover advantage, and multi-billion dollar fee-based project backlog, we see MWE as one of the best organic growth stories under our coverage. We forecast 11% distribution growth CAGR from 2012-2015 relative to our MLP average forecast of 6%, primarily driven by Marcellus/Utica organic expansions.”

MarkWest Energy closed on Tuesday at $69.00.

Latest Ratings for MWE

DateFirmActionFromTo
Jul 2015Global HunterDowngradesAccumulateNeutral
Jul 2015RBC CapitalMaintainsSector Perform
Jul 2015BarclaysUpgradesEqual-weightOverweight

View More Analyst Ratings for MWE
View the Latest Analyst Ratings

Posted-In: Goldman Sachs Theodore DurbinAnalyst Color Upgrades Analyst Ratings

 

Related Articles (MWE)

Get Benzinga's Newsletters