UPDATE: Credit Suisse Raises PT on Kinder Morgan Energy Partners LP Following 1Q Results

In a report published Thursday, Credit Suisse analyst John Edwards reiterated a Neutral rating on Kinder Morgan Energy Partners LP

, and raised the price target from $93.00 to $95.00. In the report, Edwards noted, “KMP reported 1Q results Wednesday AMC that topped consensus but were largely below CS's estimates. KMP reported EBITDA of $1.18B vs. $1.21B CS and $1.16B consensus. DCF/unit was $1.46 vs. $1.43 CS and $1.36 consensus. KMP's DCF/unit beat was largely due to timing as it reported maintenance cap ex well below forecast but reiterated its full-year forecast of $339mm. KMP also raised its distribution by $0.01/unit to $1.30, which was below CS's $1.3025/unit and consensus $1.31. KMP's increased distribution represents an 8.3% increase over KMP's 1Q:12 distribution.” Kinder Morgan Energy Partners LP closed on Wednesday at $89.26.