Credit Suisse Downgrades Midcoast Energy Partners, L.P. (MEP) to Underperform

November 9, 2016 8:20 AM EST
Get Alerts MEP Hot Sheet
Price: $7.90 --0%

Rating Summary:
    1 Buy, 7 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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Credit Suisse downgraded Midcoast Energy Partners, L.P. (NYSE: MEP) from Neutral to Underperform with a price target of $6.00 (from $9.00).

Analyst J. Edwards commented, "With peak earnings week now in the rearview, we are able to more carefully study the 10-Q filed by MEP. Applying management's commentary to our forecast leads us to materially lower our 2017 estimates for MEP, and consequently downgrade our rating from Neutral to Underperform. Specifically, we highlight Management's Discussion and Analysis regarding Texas Express and hedging positions."

For an analyst ratings summary and ratings history on Midcoast Energy Partners, L.P. click here. For more ratings news on Midcoast Energy Partners, L.P. click here.

Shares of Midcoast Energy Partners, L.P. closed at $7.40 yesterday.

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