UPDATE: Credit Suisse Upgrades Enbridge Energy Partners LP Following Investor/Analyst Day

In a report published Thursday, Credit Suisse analyst John Edwards upgraded the rating on

from Neutral to Outperform, and raised the price target from $32.00 to $33.00. In the report, Credit Suisse noted, “EEP affirmed its previous guidance on its distribution growth of 2-5% and net funding requirements of $3.6B with net equity of $0.6B. So nothing new on that front. What we viewed as new were the plans unveiled by management for $10B+ in drop-downs post build-out beginning in 2016-2017. We are holding our estimates for the next 3 years, but we are raising the longer term distribution growth profile by ~35p given the drop down plans for the longer term, to ~3.75%.” Enbridge Energy Partners LP closed on Wednesday at $27.74.