Stifel Starts Black Stone Minerals (BSM) at Buy

September 6, 2016 7:46 AM EDT
Get Alerts BSM Hot Sheet
Price: $18.86 -0.11%

Rating Summary:
    4 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Stifel initiates coverage on Black Stone Minerals (NYSE: BSM) with a Buy rating and a price target of $19.00.

Analyst Brian Brungardt, Jr. commented, "Black Stone Minerals LP (BSM) offers investors a geographically well diversified option for those seeking direct commodity exposure. Additionally, through the use of escalating minimum quarterly distributions (“MQD”) and subordinated units, we anticipate the partnership will be able to achieve the targeted 9% annual DPU growth through 2019. With units trading at a current yield of approximately 6.9% and an EV/NTM EBITDA multiple of 12.0x, we view the units attractively positioned and, in turn, are initiating coverage with a Buy rating and establishing a target price of $19.00"

For an analyst ratings summary and ratings history on Black Stone Minerals click here. For more ratings news on Black Stone Minerals click here.

Shares of Black Stone Minerals closed at $16.75 yesterday.

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