- EV Energy Partners (EVEP +5.2%) is upgraded to Buy from Hold with a $40 target price at Wunderlich, citing alleviating infrastructure constraints in the Utica which provides greater visibility towards production ramp-up in the basin and potentially benefiting EVEP's monetization plans of its Utica's assets.
- The start-up of the UEO processing plant, the de-ethanizer and the ATEX pipeline should create a positive ripple effect on EVEP's cash flow and its Utica valuation, the firm says.
- The firm thinks EVEP is now at an inflection point, presenting an attractive risk/reward opportunity.
EV Energy +5.2% as Wunderlich raises to Buy
Feb 21 2014, 11:57 ET