UPDATE: Credit Suisse Initiates SunCoke Energy Partners at Outperform on Cash Flow, Pipeline Strength

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Credit Suisse initiated coverage on SunCoke Energy Partners (NASDAQ: SXCP) with an Outperform rating and a $22.00 price target.Credit Suisse noted, "We initiate coverage of SunCoke Energy Partners with a target price of $22, providing a 7.5% yield. We believe that given the various avenues for unit distribution growth (additional dropdowns, new plant, M&A), 7-10% CAGR is possible to 2017. … We believe that SXCP has 3 levers of growth it may utilize over at least the next 5 years, (i) dropdowns of existing facilities, (ii) dropdowns of other SXC facilities, (iii) new build capacity and M&A (both longer-term drivers)."SunCoke Energy Partners closed at $20.55 on Monday.

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