Citi Initiates Coverage on EV Energy Partners (EVEP) with a Buy
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Citi initiates coverage on EV Energy Partners, L.P. (Nasdaq: EVEP) with a Buy. Price target $35.50.
Citi analyst says, "Despite current negative sentiment for the E&P MLP sector, we believe the investment proposition for EV Energy remains favorable. As such, we urge investors with a longer term investment horizon, able to sustain some volatility, to look beyond the current dislocation in the markets and strategically add to/build positions. This suggests that further growth and potential price appreciation is supported mainly by: 1) strong portfolio of development opportunities, 2) value creating acquisitions, 3) strong commodity price environment, and 4) continued interest in yield oriented Investments."
EV Energy Partners, L.P. is engaged in the exploration, development and production of oil and natural gas properties. [SM]
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