Wells Fargo Downgrades EV Energy Partners (EVEP) to Market Perform
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Wells Fargo downgrades EV Energy Partners (Nasdaq: EVEP) to Market Perform from Outperform.
Wells analyst says, "We are increasing valuation ranges across our MLP coverage universe by 12% (median). Our revised valuation ranges suggest MLPs still have moderate upside potential with an estimated median total return of 13% (target yield of 8.0% and 2010E distribution growth of 2.8%). Specifically, we are lowering the required rate of return (ROR) in our distribution discount models (DDM) by 100-200 bps in recognition of investors’ increased risk appetite...As a result of our valuation adjustments, we are downgrading EV Energy Partners to Market Perform."
To see more analyst ratings on EVEP Click Here.
EV Energy Partners, L.P. engages in the acquisition, production, and development of oil and gas properties
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