Wunderlich Securities Sees Multiple Positive Catalysts Ahead For DCP Midstream Partners LP

In a report published Wednesday, Wunderlich Securities analyst Abhishek Sinha reiterated a Hold rating and $57.00 price target on

. In the report, Wunderlich Securities noted, “While short on dramatic announcements, DCP's Investor Day highlighted the robust opportunities ahead for the company. DCP expects higher organic capex for 2014-2016 than earlier indicated. Although the company does not expect any more drop down for this year, it forecasts $3-$5B of drop downs over the next two years The company also raised its 2014 DCF guidance by ~8% but maintained its 7% distributions growth for the year. In our view, DPM will remain the funding vehicle to fuel DCP expansion; however, the acquisition multiples and the growth acceleration would dictate the future distributions growth for the company which, in our opinion, has only improved.” DCP Midstream Partners LP closed on Tuesday at $53.48.