Deutsche Bank Starts Noble Midstream Partners LP (NBLX) at Hold
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Deutsche Bank initiated coverage on Noble Midstream Partners LP (NYSE: NBLX) with a Hold rating and a price target of $29.
Analyst Kristina Kazarian said, "Noble Midstream Partners (NBLX) is a new, high-growth midstream MLP sponsored by Noble Energy (NBL). Assets are in the DJ and Delaware Basins and comprise crude / gas gathering and water infrastructure. We think the combination of a strong E&P sponsor, solid basin exposure, large planned drop-down inventory, and long-dated DPU growth targets offer a compelling story. That said, the run-up since the IPO makes the stock look fully-valued vs. peers on our ests and thus we launch coverage at Hold."
Shares of Noble Midstream Partners LP closed at $27.71 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesDeutsche Bank, Crude Oil, IPO
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