UPDATE: Wunderlich Securities Reiterates Buy Rating, Raises PT on Access Midstream Partners

In a report published Wednesday, Wunderlich Securities reiterated its Buy rating on Access Midstream Partners LP

, and raised its price target from $32.50 to $40.00. Wunderlich Securities noted, “We are increasing our price target on Access Midstream Partners, L.P. (ACMP) to $40/unit from $32.50/unit. We are lowering the required rate of return in our distribution discount model as we believe the change in the partnership's sponsor has alleviated concerns regarding Access' exposure to its former sponsor. We believe Access has the potential for above-average distribution growth over the next several years. Based on our distribution estimates, growth would be 16% in 2012 and 15% in 2013. Our estimates do not include any acquisitions, although the partnership should complete a deal by the end of the year. We have a Buy rating on Access' units.” Access Midstream Partners LP closed on Tuesday at $33.85.