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Enterprise Products Partners L.P. Message Board

  • lawstuff22 lawstuff22 Sep 20, 2012 10:06 PM Flag

    Ladenburg ups price tgt/

    Ladenburg Thalmann & Co. Inc. on Thursday reiterated its Buy recommendation on MLP Enterprise Products Partners L.P. (EPD) and increased its price target to $62, citing an EPD announcement that its senior management team will recommend to its board of directors increases in the partnership’s cash distributions of 6.1% in 3Q12 and 6.5% in 4Q12. From Ladenburg analyst Eduardo Seda:

    EPD continues to retain distributable cash flows to fund projects internally, with many projects underway, and EPD continuing to review additional growth opportunities in existing areas of operation as well as in new areas, we still forecast that EPD could raise its distribution at an average of 5-6% over 2012-14 period and increasing to an average of 6-7% longer-term….

    Our new 12-month PT of $62, up from $60, is based on our three-stage, 10-year distribution discount model (DDM) and now reflects higher distribution growth level for 3Q12 and 4Q12 and longer-term.

 
EPD
77.63+0.20(+0.26%)Jul 11 4:04 PMEDT

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