UPDATE: Oppenheimer Reiterates Outperform Rating, Raises PT on Enterprise Products Partners

In a report published Wednesday, Oppenheimer Holdings reiterated its Outperform rating on Enterprise Products Partners

, and raised its price target from $53.00 to $59.00. Oppenheimer noted, “We are raising our EPD price target to $59 from $53, reflecting increased confidence in the company's growth outlook. Adjusted EBITDA was $1,045M, above both consensus and our estimate of $964M. We continue to believe EPD should be a core MLP holding, due to its large scale and diversified asset base. We believe the partnership will continue to grow its distribution over the next several years, while its strong liquidity position and coverage ratio give us additional confidence in its growth outlook. Adjusted estimates reflect updated guidance and commodity prices.” Enterprise Products Partners closed on Tuesday at $53.53.