Credit Suisse Upgrades Enterprise Products Partners (EPD) to Outperform
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Credit Suisse upgraded Enterprise Products Partners (NYSE: EPD) from Neutral to Outperform with a price target of $34.00, saying weakness creates an attractive entry point.
Analyst John Edwards commented, "We believe EPD offers a solid risk/reward proposition given the MLP's conservative distribution policy (~1.30x coverage in 2016-2019), high quality & interconnected asset footprint, and best in class management team. The only thing that held us back up to this point has been valuation and with the recent undue (in our view) correction in unit price, we think it is time to buy. We maintain our $34 target price (~36% potential total return) and upgrade our rating to Outperform."
Shares of Enterprise Products Partners closed at $26.01 yesterday.
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