UPDATE: Credit Suisse Upgrades Alon Partners to Outperform on Relative Upside Potential
Credit Suisse upgraded Alon Partners (NYSE: ALDW) from Neutral to Outperform and raised the price target from $24.00 to $28.00.
Credit Suisse commented, "Upgrade ALDW to O/P, Raise TP to $28/sh: Since we launched coverage on ALDW (Jan 2nd, 2013), the AMZ index has outperformed by c13% (AMZ +7%, ALDW -6%). With a 2013 expected yield of c20% and c24% upside to our TP of $28, ALDW offers a 2013 total return of c44% which compares to 16% offered by the average MLP (7% yield + 9% upside to DDM)."
Alon Partners closed at $22.59 on Wednesday.
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