UPDATE: Wunderlich Securities Upgrades Access Midstream Partners LP Ahead Of Analyst Day

In a report published Monday, Wunderlich Securities analyst David Askew upgraded the rating on

from Hold to Buy, and raised the price target from $56.00 to $64.00. In the report, Wunderlich Securities noted, “We are upgrading Access Midstream (ACMP) to Buy ahead of its May 2014 investor/analyst day and raising our price target to $64. We expect ACMP to provide solid guidance for 2016 EBITDA along with a continuation of 15% distribution growth, which should lead to consensus estimate revisions. While some MLPs under coverage have provided lower than expected growth outlooks, ACMP has good visibility on 15+% growth through 2016 underpinned by its diverse asset base, contractual model, and strong coverage/balance sheet. "At the same time, management believes its ATM can fully fund its equity needs while the business naturally de-levers over time. It's the model that keeps on giving, which should command a sustained premium, in our view. Our $64 valuation implies a 12-month target yield of 4%.” Access Midstream Partners LP closed on Friday at $56.45.