UPDATE: Credit Suisse Upgrades NiSource to Outperform, Raises PT on Separation/MLP Formation

In a report published Tuesday, Credit Suisse analyst John Edwards upgraded the rating on

from Neutral to Outperform, and raised the price target from $41.00 to $50.00. In the report, Credit Suisse noted, “With NI only taking its EPS growth trajectory down by 100bp to 4-6% after the separation of Columbia Pipeline Group which has ~$700mm in 2015E EBITDA, it's clear NI's growth prospects are rising and difficult to see downside to the outlook. CPG is expected to invest $12-$15b over the next 10 years which should support double digit EBITDA growth.” NiSource closed on Monday at $40.84.