UPDATE: Deutsche Bank Initiates Coverage on NGL Energy Partners LP with Hold Rating, $36 PT on Mixed Factors

In a report published Friday, Deutsche Bank analyst Curt Launer initiated coverage on NGL Energy Partners LP NGL with a Hold rating and $36.00 price target. In the report, Deutsche Bank noted, “We have a favourable view of the growth achieved and road ahead for the water treatment, crude oil, propane and natural gas liquids. The offset to these plusses is the lesser availability of drop-down or organic growth, lower outright ownership of assets and the upcoming needs for additional equity compared to other MLP peers.” NGL Energy Partners LP closed on Thursday at $31.19.