In a address appear Wednesday, Credit Suisse analyst John Edwards upgraded the appraisement on Energy Transfer Partners LP (NYSE: ETP) from Neutral to Outperform, but bargain the amount ambition from $78.00 to $77.00.
In the report, Credit Suisse noted, “We are blurred our TP by $1 to $77 as we now annual for 2 out of 3 trains actuality accustomed at the Lake Charles ability through the end of 2015. We are advance ETP to an Outperform as we accept the contempo softness/volatility in the banal due to the depressed article amount ambiance has created a solid affairs befalling to our TP of $77—this appears to be about boilerplate vs. the blow of the accumulation but for one of the beyond cap names in the amplitude and on a risk-adjusted base we like the name. With a aggregate of their acknowledgment on the nat gas side, some centralized hedges to lower awkward prices with the retail business allotment of the business, as able-bodied as the accessible drops to SUN to admonition armamentarium a aggregate of the capex spending ahead, we anticipate there is a lot to like about the name. Apart from ETE, this is our admired name in the family.”
Energy Transfer Partners LP bankrupt on Tuesday at $62.62.
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