UPDATE - Barclays reinstates coverage on Plains All American (PAA); Solid Growth Visibility on Reasonable Valuation

UPDATE - Barclays reinstates coverage on Plains All American (NYSE: PAA) with an Overweight. PT $89.00.

Analyst, Richard Gross, said, "Combining contributions from $2 billion of recent acquisitions, a $5 billion organic project portfolio, favorable crude oil infrastructure backdrop, low interest rate environment and strong management team, PAA is a core MLP holding that is well positioned to generate an attractive 13% total return (3-year distribution CAGR), in our view. Our $89 PT is based on a 12-month distribution run rate of $4.52 and 5.1% yield."

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