UPDATE: Bank of America Raises PT on Crosstex Energy LP on 4Q12 Adjusted EBITDA

In a report published Monday, Bank of America reiterated its Buy rating on Crosstex Energy LP

, and slightly raised its price target from $18.00 to $19.00. Bank of America noted, “Last Thursday after market close, XTEX reported 4Q12 adjusted EBITDA of $52mn, above the recently revised BofAML estimate of $51mn and the consensus estimate of $51mn. The quarter was negatively impacted by costs associated with valuation of potential acquisitions along with other business development activities, but operating activities were broadly in-line with our expectations. XTEX previously announced a 4Q12 cash distribution of $0.33 ($1.32 annualized), representing an increase of 0/3% over 3Q12/4Q11 levels, in-line with the BofAML estimate.” Crosstex Energy LP closed on Friday at $17.46.