Will This Price Target Increase Help Boardwalk Pipeline (BWP) Stock Today?

Story updated at 9:55 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Credit Suisse raised its price target for Boardwalk Pipeline (BWP) to $24 from $20 Tuesday, reiterating its "outperform" rating for the stock.
Boardwalk Pipeline fell -1.2% to $19.42 in morning trading.

The analyst firm also raised its EPS estimates for the company through 2017. Credit Suisse analsysts wrote that Boardwalk Pipeline reported strong second quarter results with higher than expected demand and increased volume.

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Separately, TheStreet Ratings team rates BOARDWALK PIPELINE PRTNRS-LP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate BOARDWALK PIPELINE PRTNRS-LP (BWP) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share."

BWP ChartBWP data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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