Analyst Actions: Suburban Propane Partners Coverage Initiated With Outperform, TP of $44; Shares Up 1%

By
A A A

Analysts at Credit Suisse have initiated coverage of Suburban Propane Partners, LP ( SPH ) with an outperform rating and price target of $44 a share.

"In our view, SPH is positioned to deliver consistent low-single-digit distribution growth over the coming years as it realizes the benefits of its $1.8b acquisition of Inergy's retail propane business," said Credit Suisse. "Furthermore, we believe that units are an inexpensive hedge on weak NGL prices, which make it even more attractive from a portfolio risk management perspective."

Shares of SPH are up 1% in afternoon trade to $37.98, within a 52-week range of $34.58 - $48.25.



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

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


This article appears in: Investing , Commodities

Referenced Stocks: SPH

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

110,219,031
  • $6.79 ▲ 14.31%
104,982,008
  • $11.83 ▲ 12.35%
95,065,355
  • $3.40 ▲ 0.59%
79,694,763
  • $36.59 ▲ 2.64%
49,037,292
  • $39.90 ▲ 5.81%
47,069,528
  • $15.34 ▼ 1.03%
43,387,835
  • $6.56 ▼ 1.94%
42,066,487
  • $98.38 ▼ 0.65%
As of 7/29/2014, 04:04 PM