Credit Suisse Downgrades Magellan Midstream Partners (MMP) to Neutral

Credit Suisse downgraded Magellan Midstream Partners (NYSE: MMP) from Outperform to Neutral with a price target of $70.00 (from $80.00).

Analyst J. Edwards comments, "4Q15 Beat, Highly Defensive Biz, but Cutting to Neutral on Valuation: With balance sheet leverage of approx. 2.8x pro-forma, distribution coverage above 1.4x, no external equity needs for the foreseeable future, high single to low double digit distribution growth."

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 $63.95 yesterday.

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