UPDATE: Credit Suisse Initiates Coverage On Nextera Energy Partners LP On Visibility to Growth

In a report published Friday, Credit Suisse analyst Dan Eggers initiated coverage on

with an Outperform rating and $46.00 price target. In the report, Credit Suisse noted, “We see NEP as a best-in-class growth stock that can sustain double-digit CAFD (cash available for distribution) growth through asset drop-downs from parent NextEra Resources (NEE), supporting 15% annual dividend growth for the next 10 years. For long-term investors looking for better than market yield plus nearly twice as fast growth from visible contracts, we believe NEP offers a compelling investment package. We are initiating coverage of NEP with an Outperform rating and a $46 price target.” Nextera Energy Partners LP closed on Thursday at $36.60.