UPDATE: Credit Suisse Upgrades Exterran Partners LP to Outperform, Raises PT on Valuation, Improving Prospects

In a report published Wednesday, Credit Suisse analyst John Edwards upgraded the rating on Exterran Partners LP EXLP from Neutral to Outperform, and raised the price target from $31.00 to $32.00. In the report, Credit Suisse noted, “EXLP reported 4Q Adjusted EBITDA and DCF of $58.8mm and $37.8mm, in-line with our estimates of $57.3mm and $36.1mm, respectively and higher than Street's EBITDA expectations of $55.8mm. 4Q13 gross margin and average utilization came in at 55.7% and 94%, respectively, in line with expectations.” Exterran Partners LP closed on Tuesday at $28.51.