UPDATE: Imperial Capital Initiates Calumet Specialty Products at In-Line on Expected Continued Distribution Growth

In a report published Tuesday, Imperial Capital analyst Ann Kohler initiated coverage on Calumet Specialty Products CLMT with an In-Line rating and $37.00 price target.

In the report, Imperial Capital noted, “We are initiating coverage of Calumet Specialty Products Partners, LP with an In-Line rating and a one-year price target of $37 about 6% above the recent share price. In order to deliver sustained distribution growth to its unit holders, CLMT remains focused on a growth strategy that focuses on the combination of strategic acquisitions as well as organic growth opportunities across its specialty chemicals and fuels products businesses. Over the past several years, CLMT has pursued a growth strategy focused on building a balanced niche-asset portfolio levered to the Mid-Continent and Gulf Coast regions, taking advantage of the feedstock price-advantages offered by the country's emerging shale plays. As a consequence of its diversified product mix and favorable geographic location, combined with its growth strategy, CLMT should be able to achieve continued distribution growth over our 2013-14 forecast period.”

Calumet Specialty Products closed on Monday at $35.01.