Skip to main content

Market Overview

UPDATE: Bank of America Increases PO of Suburban Propane Partners to $47


According to a research report this morning, Bank of America increases Suburban Propane Partners (NYSE: SPH) from $46 to $47 following announcement of acquisition of the retail propane operations of Inergy (NYSE: NRGY) for $1.8bn.

Bank of America explained, “Through this transaction, SPH will essentially double its market share in a fragmented industry, with only two other major competitors (APU and FGP). We like this deal for several reasons: 1) looks to be nicely accretive to SPH distributable cash flow (DCF), 2) scale of deal should allay concerns over medium-term growth due to secular and cyclical issues plaguing the retail propane industry, and 3) mgmt experience in successfully executing acquisitions through aggressive cost rationalizations.”

Suburban Propane Partners closed yesterday at $42.53 as Bank of America maintains its Neutral rating.

Latest Ratings for SPH

Oct 2020Argus ResearchUpgradesSellHold
Oct 2020Raymond JamesMaintainsOutperform
Jul 2020Wells FargoMaintainsEqual-Weight

View More Analyst Ratings for SPH
View the Latest Analyst Ratings


Related Articles (SPH)

View Comments and Join the Discussion!

Posted-In: Bank of AmericaAnalyst Color Reiteration Analyst Ratings

Latest Ratings

NIUDaiwa CapitalInitiates Coverage On41.5
QMCONorthland Capital MarketsInitiates Coverage On12.0
IBKRJefferiesInitiates Coverage On89.0
MRETFTD SecuritiesDowngrades18.5
SWKSGoldman SachsDowngrades135.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at