Market Overview

UPDATE: Goldman Sachs Upgrades MarkWest Energy on Multiple Positive Factors

Related MWE
Stocks Hitting 52-Week Lows
Marathon Petroleum Is Worth $61, So JP Morgan Is Upgrading
MLPs Sink as Investors Dump Pipeline Stocks on Oil Meltdown (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

Aug 2015BarclaysMaintainsOverweight
Aug 2015Credit SuisseDowngradesOutperformNeutral
Jul 2015Global HunterDowngradesAccumulateNeutral

View More Analyst Ratings for MWE
View the Latest Analyst Ratings

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


Related Articles (MWE)

View Comments and Join the Discussion!

Get Benzinga's Newsletters