Morgan Stanley Sees Summit Midstream Partners LP Building a Significant Backlog

In a report published Wednesday, Morgan Stanley analyst Brian Lasky reiterated an Equal-Weight rating and $49.00 price target on Summit Midstream Partners LP SMLP. In the report, Morgan Stanley noted, “While we remain Equal-weight, we believe SMLP ($49 price target) is an underappreciated multi-year growth story benefiting from proactive sponsorship and a growing project backlog/dropdown inventory.” Summit Midstream Partners LP closed on Tuesday at $47.50.