Analyst Actions: Crosstex Energy, L.P. Coverage Initiated With Outperform, TP of $18 At Credit Suisse


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Analysts at Credit Suisse have initiated coverage of Crosstex Energy, L.P. ( XTEX ) with an Outperform rating and a price target of $18 a share.

"We believe that the mostly fee-based revenues produced by XTEX's diverse asset base and projected distribution growth forecast is undervalued at its 9.6% current yield," the firm said."We are assigning an $18 target price, with a target yield range of 7.75-8.25%, implying a 200 bp discount to the AMZX and 37-45% total return potential including distributions."

Shares of XTEX are down 0.8% to $13.62, within a 52-week range of $13.06 - $18.24.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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