Jefferies Starts Navios Maritime Partners LP (NMM) at Buy

Jefferies initiates coverage on Navios Maritime Partners LP (NYSE: NMM) with a Buy rating and a price target of $22.00.

Analyst Nicholas Norstrom said, "We are initiating on NMM with a Buy rating and a $22 per unit PT as the units currently trade at a yield of 9.5%, well above the shipping MLP peer group average of 6.6%. With $190+ million in cash on the balance sheet available for acquisitions and a dry bulk market likely to improve in 2H14 onward, we believe the stock will trade at a tighter spread to the peer group in addition to the potential of increasing distributions over the next 12-18 months."

For an analyst ratings summary and ratings history on Navios Maritime Partners LP click here. For more ratings news on Navios Maritime Partners LP click here.

Shares of Navios Maritime Partners LP closed at $18.68 yesterday.

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