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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorPrice TargetAnalyst RatingsAbhishek SinhaWunderlich Securities
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!