Credit Suisse Upgrades Valero Energy Partners LP (VLP) to Outperform
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Credit Suisse upgraded Valero Energy Partners LP (NYSE: VLP) from Neutral to Outperform with a price target of $55.00 (from $60.00), citing an attractive entry point for a 'best in class' MLP growth story.
Analyst Bhavesh Lodaya commented, "We are upgrading VLP to Outperform from Neutral as we believe the recent correction in unit prices provides an attractive entry to a best-inclass MLP growth story. VLP ranks as one of the highest in terms of planned distribution growth and the parent, VLO remains strong & supportive. Further, VLP ranks #2 (out of 36) on our proprietary MLP health analysis and in our view can sufficiently weather a downturn in commodity prices and/or capital market access, providing investors with a simple, low-risk and a highquality holding."
Shares of Valero Energy Partners LP closed at $40.90 yesterday.
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