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In a report published Tuesday, Stifel analyst Selman Akyol initiated coverage on
Marlin Midstream Partners LPFISH with a Buy rating and $23.00 price target.
In the report, Stifel noted, “The midstream assets are composed of natural gas gathering, transportation, treating and processing, and NGL transportation assets and crude oil transloading services compose the crude logistics segment. The midstream assets are located in East Texas and the crude logistics assets are in Carbon County, Utah, and Big Horn County, Wyoming. We believe the partnership has a very supportive general partner whose economic interests are aligned and should support growth through a strategy of asset dropdowns. We are initiating with a Buy rating on the units and a target price of $23.00 for a one year total return potential of approximately 30%. We value the units using the yield capitalization method.”
Marlin Midstream Partners LP closed on Monday at $18.75.
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