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UPDATE: Credit Suisse Initiates Coverage on Rentech Nitrogen Partners LP on Lack of Positive Pricing Momentum

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In a report published Tuesday, Credit Suisse analyst Christopher S. Parkinson initiated coverage on Rentech Nitrogen Partners LP (NYSE: RNF) with a Neutral rating and $27.00 price target.

In the report, Credit Suisse noted, “We are initiating coverage on RNF with a neutral rating and a $27 target price. The key reason for our Neutral rating is a lack of positive nitrogen pricing momentum. We believe urea and UAN prices are bottoming. Three catalysts we prefer to wait for before becoming more constructive on the name include: (1) greater visibility on incremental growth initiatives, (2) evidence of sustainable pricing momentum, and (3) the potential for additional accretive M&A activity.”

Rentech Nitrogen Partners LP closed on Monday at $24.52.

Latest Ratings for RNF

DateFirmActionFromTo
Sep 2014Cowen & CompanyMaintainsMarket Perform
Aug 2014BMO CapitalMaintainsMarket Perform
May 2014Imperial CapitalMaintainsOutperform

View More Analyst Ratings for RNF
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Posted-In: Christopher S. Parkinson Credit SuisseAnalyst Color Initiation Analyst Ratings

 

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