real-time news and commentary for investors
Thursday, Aug 22
Kayne Anderson upgraded to Buy at Stifel with23% total return potential
- Kayne Anderson Energy (KED +2.7%) is upgraded to Buy from Hold with a $29 price target at Stifel Nicolaus, which describes a well managed closed-end fund trading at a 13% discount to its estimated NAV while providing an attractive yield of 7%; price appreciation plus yield offers investors a total return potential of 23%.
- While KED has emphasized private MLPs, it has converted some of those holdings to public companies - such as Emerge Energy (EMES), which came public in May at $17 and now trades at $29.