Credit Suisse Upgrades Magellan Midstream Partners (MMP) to Outperform

Credit Suisse upgraded Magellan Midstream Partners (NYSE: MMP) from Neutral to Outperform with a price target of $89.00 (from $93.00) on valuation.

Analyst J. Edwards noted the firm is mostly holding estimates with 2015-2017 EBITDA of $1,094mm, $1,155mm and $1,266mm and DCF of $882mm, $952mm and $1,071mm, respectively. Given the 45% upside to current levels the firm upgrades to Outperform.

For an analyst ratings summary and ratings history on Magellan Midstream Partners click here. For more ratings news on Magellan Midstream Partners click here.

Shares of Magellan Midstream Partners closed at $64.06 yesterday.

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