Barclays Raises PT and Estimates on Niska Gas Storage Partners (NKA); Remains 'Underweight' Rated

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Barclays maintains an 'Underweight' on Niska Gas Storage Partners LLC (NYSE: NKA) price target of $11.00 (from $9.00).

Analyst, Richard Gross, said, "NKA reported better-than-expected fiscal 2012 results and provided fiscal 2013 guidance that implied flat EBITDA and slightly higher DCF YoY...We are increasing our price target to reflect NKA's improved coverage, but maintain our rating based on our view that any potential restructuring will lead to outsized volatility on the unit price given the company is in its subordination period."

Gross raises FY12 EPS estimate from $0.11 to $0.48 and established FY13 at $0.39.

For an analyst ratings summary and ratings history on Niska Gas Storage Partners LLC click here. For more ratings news on Niska Gas Storage Partners LLC click here.

Shares of Niska Gas Storage Partners LLC closed at $11.70 yesterday, with a 52 week range of $8.46-$19.97.

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