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