UPDATE: Oppenheimer Starts NextEra Energy Partners (NEP) at Outperform
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(Updated - September 8, 2016 9:50 AM EDT)
Oppenheimer initiated coverage on NextEra Energy Partners (NYSE: NEP) with an Outperform rating and a price target of $34. Analyst Colin Rusch sponsor and pipeline strength support growth and capital advantage.
"We initiate coverage of NextEra Energy Partners LP (NEP) with an Outperform rating and a 12- to 18-month price target of $34, based on our dividend discount model. We see NEP as having best-in-class right of first offer (ROFO) projects and pipeline of potential assets with a strong, financially sophisticated sponsor; low beta; and an inexpensive public currency which we believe bodes well for consistent accretive growt," said Rusch.
Shares of NextEra Energy Partners closed at $30.75 yesterday.
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