Analyst Actions: EQT Midstream Upgraded To Outperform, PT Up $1 at Credit Suisse; Shares Rise 2%

By Staff,

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EQT Midstream Partners LP ( EQM ) has been upgraded to Outperform from Neutral by analysts at Credit Suisse. The price target has been raised to $39 from $38 a share.

"EQM is well positioned to drive 10%+ annual distribution growth over the next five years from drop-downs from a large and growing portfolio of mid-stream assets from its parent EQT Corp. ( EQT )," said Credit Suisse.

"EQM reported 4Q12 Adjusted EBITDA of $22.8mm, higher compared to our estimate of $19.1mm and consensus of $18.7mm. The beat was driven by increased transmission throughput associated with strong Marcellus shale development."

The firm also revised their 2013, 2014 and 2015 EPU estimates to $1.99, $2.03 and $2.10 from $1.89, $2.21 and $2.33 respectively.

Shares of EQM are up 2.26% to $34, near the top of its 52-week range of $22.58 - $34.96.

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
Referenced Stocks: EQM , EQT

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