UPDATE: Stifel Nicolaus Upgrades Targa Resources Partners to Buy on Distribution Growth
Stifel Nicolaus upgraded Targa Resources Partners (NYSE: NGLS) from Hold to Buy and announced a $48.00 price target.
Stifel Nicolaus noted, "In light of the continued investment in its fee-based margins, we expect the partnership will be able to grow its distribution over 10% through FY14. In turn, we are raising our rating to Buy from Hold and establishing a rounded price target of $48.00. We arrive at our price target using our annualized 4Q13 DPU estimate of $3.00 and a targeted yield of 6.25%. In turn, we see total return potential of approximately 21.6% based on today's close price."
Targa Resources Partners closed at $41.88 on Thursday.
Latest Ratings for NGLS
|Jan 2016||Seaport Global||Downgrades||Buy||Accumulate|
|Jan 2016||Raymond James||Downgrades||Outperform||Market Perform|
|Dec 2015||Credit Suisse||Downgrades||Outperform||Underperform|
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