UPDATE: UBS Starts Hoegh LNG Partners LP (HMLP) at Neutral
Get Alerts HMLP Hot Sheet
Rating Summary:
2 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 9 | New: 42
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UBS initiated coverage on Hoegh LNG Partners LP (NYSE: HMLP) with a Neutral rating and a price target of $26.00. Analyst Shneur Z. Gershuni thinks strong post IPO performance limits upside.
"We initiate coverage of HMLP with a Neutral rating and $26 Price Target. HMLP's double-digit distribution growth and positive industry fundamentals offer a compelling growth opportunity; however, strong performance (+27% vs. $20 midpoint) following the IPO leaves limited upside, in our view. Nonetheless, the partnership's strategy appears well suited for MLP investors due to long-term firm contracts with pass-throughs and a pipeline of dropdown assets to fuel distribution growth. HMLP also offers exposure the fast growing global LNG market slated to grow at twice the rate of global natural gas consumption over the long-term," he said.
For an analyst ratings summary and ratings history on Hoegh LNG Partners LP click here. For more ratings news on Hoegh LNG Partners LP click here.
Shares of Hoegh LNG Partners LP closed at $25.89 yesterday.
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