UPDATE: Stifel Reiterates On New Source Energy Partners LP On Good Investment Opportunity

In a report published Monday, Stifel analyst Brian Brungardt Jr. reiterated a Buy rating on

, but lowered the price target from $28.00 to $26.00. In the report, Stifel noted, “We are transferring coverage of New Source Energy Partners L.P. (NSLP) from our colleague Dan Guffey, maintaining our Buy rating, and lowering our target price to $26 from $28. We believe investors stand to benefit from management's focus on growing both the upstream and oilfield services business. With the November 2013 acquisition of Mid-Central Energy Services and subsequent acquisitions, the partnership diversified its business mix. Unitholders stand to benefit, in our opinion, from its 98% success rate in drilling in the mature Hunton formation as well as the expanding demand for oilfield services as production increasingly comes from horizontal wells.” New Source Energy Partners LP closed on Friday at $23.32.