UBS Downgrades Access Midstream Partners, L.P. (ACMP) to Neutral on Valuation

Earlier, UBS downgraded Access Midstream Partners, L.P. (NYSE: ACMP) from Buy to Neutral with a price target of $37.00 (from $32.00).

The firm comments: "ACMP units are up >20% this month following the announcement on Sept 12 of sale agree ments for almost all of Chesapeake Midstream Development (CMD) between Chesapeake Energy and GIP (ACMP’s new GP). While we believe the CMD deal removed a major investor concern and increases the visibility for ACMP’s growth going forward, we no longer believe, as we did in the spring, that units are meaningfully undervalued. We think current prices roughly reflect fair value, and we move to Neutral on valuation."

For an analyst ratings summary and ratings history on Access Midstream Partners, L.P. click here. For more ratings news on Access Midstream Partners, L.P. click here.

Shares of Access Midstream Partners, L.P. closed at $35.64 yesterday.

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