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MarkWest Energy upgraded to Buy from Hold at Jefferies

Jun. 17, 2015 3:49 PM ETMarkWest Energy Partners, L.P. (MWE) StockSTR-OLD, SWX, MWE, APUBy: Carl Surran, SA News Editor
  • MarkWest Energy (MWE +0.3%) is upgraded to Buy from Hold with a $68 price target at Jefferies, which believes the recent share price pullback following MWE's annual investor day earlier this month presents a compelling entry point.
  • The firm says it continues to expect MWE to deliver on its targeted distribution growth guidance of 4.5%, 7% and 10%, from 2015-17, respectively, and projects a five-year distribution compound annual growth return of ~8% with average coverage of ~1.1x over the period.
  • Among regulated utilities, Jefferies upgrades Questar (STR +1.8%), Southwest Gas (SWX +1.7%) and AmeriGas Partners (APU +1.8%), saying they have fared worse than most in recent weeks amid rising Treasury yields (I, II, III).

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MarkWest Energy Partners, L.P.