UPDATE: Credit Suisse Reinstates Coverage On NiSource On Positive Outlook

In a report published Wednesday, Credit Suisse analyst John Edwards reinstated coverage on

with an Outperform rating and $50.00 price target. In the report, Credit Suisse noted, "We are reinstating coverage of NiSource and maintaining our prior $50 target price and Outperform rating. We are concurrently initiating coverage on Columbia Pipeline Partners (CPPL). With the Columbia Pipeline Group MLP now listed, the next step is separation and listing of CPGX (originally COLP). We await further color on the separation which will include a pro-rata dividend to NI shareholders. For now, we are assuming that NI will continue to consolidate CPG results and back out non-controlling interest attributable to CPPL." NiSource closed on Tuesday at $41.92.