UPDATE: Stifel Starts GasLog Partners LP (GLOP) at Buy
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(Updated - November 21, 2016 10:19 AM EST)
Stifel initiated coverage on GasLog Partners LP (NYSE: GLOP) with a Buy rating and a price target of $24. Analyst Benjamin J. Nolan called it an obvious LNG growth vehicle.
"Among marine MLPs, we believe GLOP is well positioned for growth given a strong backlog of dropdown candidates at the sponsor levels and the strengthening fundamentals of the LNG market. Thus we expect distributions to grow by at least 10% per year for the next several years and believe units are attractively valued currently trading at a 9.7% yield," said Nolan.
Shares of GasLog Partners LP closed at $19.75 yesterday.
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