Mizuho Securities Starts Noble Midstream Partners LP (NBLX) at Buy
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Mizuho Securities initiates coverage on Noble Midstream Partners LP (NYSE: NBLX) with a Buy rating and a price target of $33.00.
Analyst Brian Zarahn commented, "NBLX is a crude oil, natural gas and water services pipeline MLP offering an attractive value proposition of a 5.4% yield and 20% growth, in our view. Combining strategically located transportation and storage assets in DJ and Permian Basins, integration with investment grade parent Noble Energy's drilling program, diverse, fee-based cash flows backed by long-term contracts, organic projects, relatively large dropdown inventory and solid balance sheet, NBLX is well-positioned to post high growth amid gradually improving oil fundamentals, in our opinion."
Shares of Noble Midstream Partners LP closed at $27.71 yesterday.
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