Jefferies Upgrades MDU Resources (MDU) to Buy

Jefferies analyst Julian Dumoulin-Smith upgraded MDU Resources (NYSE: MDU) from Buy to Buy with a price target of $20.00 (from $18.00).

The analyst comments "Raise rating to BUY from HOLD with new PT $20/sh from $18/sh prior. Though building in Bakken East Pipeline upside at a 50% probability adds $1/sh, we see compelling value on the core business given the current 11% discount. The 6-8% EPS CAGR is differentiated vs. other smid-cap growth stories, and despite guidance revisions earlier this year, we think post-spin noise is behind MDU. Coming pipeline announcement drives re-rating opportunity."

For an analyst ratings summary and ratings history on MDU Resources click here. For more ratings news on MDU Resources click here.

Shares of MDU Resources closed at $16.09 yesterday.

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