Story updated at 10 a.m. to reflect market activity.
Access Midstream partners fell -0.5% to $62.67 in morning trading.
The firm reiterated its "buy" rating for the stock. The higher price target reflects higher volume growth and distribution growth according to analysts Jeffrey Birnbaum and Shneur Z. Gershuni.
"We are increasing our standalone ACMP price target on modestly higher volume growth and forecast distribution growth in the out years of our model (2017 and 2018 growth now ~17% growth/yr vs. ~15.5% previously)," the analysts wrote. "Our 2016 growth capex forecast increases from $700MM to $900MM-a figure above guidance of $600-$800MM but one that could continue heading higher as additional opportunities develop and become contracted (guidance only includes projects booked to date)."
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Separately, TheStreet Ratings team rates ACCESS MIDSTREAM PARTNERS LP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ACCESS MIDSTREAM PARTNERS LP (ACMP) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, good cash flow from operations, increase in net income and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."