UPDATE: Wunderlich Securities Reiterates On Access Midstream Partners LP On Proposed Merger With Williams

In a report published Tuesday, Wunderlich Securities analyst Abhishek Sinha reiterated a Buy rating on Access Midstream Partners LP ACMP, and raised the price target from $64.00 to $77.00. In the report, Wunderlich Securities noted, “Access Midstream Partners, L.P (ACMP) announced on June 15, 2014, a proposal regarding a possible merger transaction involving the Partnership and Williams Partners L.P. (WPZ-NR). "The ACMP-WPZ merger would effectively be completed in a unit-for-unit exchange at a ratio of 0.85 ACMP units per WPZ unit. The merged MLP is expected to have an increase in 2015 distributions of at least 25% above ACMP's current 2015 distribution guidance. The expected increase in 2016 distributions is at least 20% above ACMP's current 2016 distribution guidance. The combined partnerships will have above average distribution growth of 10%-12% in 2016 and 2017. We are raising our price target for ACMP from $64 to $77 based on the assumption that the merger would consummate.” Access Midstream Partners LP closed on Monday at $66.57.