Seaport Global Securities Starts Sanchez Production Partners LP (SPP) at Buy
Get Alerts SPP Hot Sheet
Rating Summary:
1 Buy, 3 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Seaport Global Securities initiates coverage on Sanchez Production Partners LP (NYSE: SPP) with a Buy rating and a price target of $15.00.
Analyst Sunil Sibal commented, "We view SPP's distribution yield of ~14.5% as attractive and expect its valuation to improve as management executes on recently acquired projects and also grows the connectivity of its system to downstream end markets. The key to SPP's cash flow growth is production growth at the underlying E&P producer's (Sanchez Energy) Catarina assets in the Eagle Ford - we look forward to the upcoming Analyst Day in January for the next update. After taking into account SPP's producer and basin concentration risk, we initiate coverage with a Buy rating and $15 price target."
For an analyst ratings summary and ratings history on Sanchez Production Partners LP click here. For more ratings news on Sanchez Production Partners LP click here.
Shares of Sanchez Production Partners LP closed at $11.70 yesterday.
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