MarkWest +3.2% as Wunderlich lifts share price target


MarkWest Energy's (MWE +3.2%) target price is raised to $88 from $83 at Wunderlich, which is confident in MWE's ability to achieve double-digit distributions growth after 2015 (Briefing.com).

Wunderlich says wells in the Marcellus and Utica continue to show improvement and have raised the operating outlook for E&P companies in the region; MWE, with its dominating position in the plays and a chain of organic expansion projects in the pipeline, would be a direct beneficiary to the rising production.

The firm also notes that MWE is adding another 400M cf/day of processing and 60M bbl/day of fractionation capacity at its Keystone complex.

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