The firm set a price target of $92 for the Tulsa, OK-based petroleum transportation, storage, and distribution company.
Credit Suisse said it lowered Magellan Midstream Partners' rating because of a valuation call based on re-assessment of master limited partnership's post-earnings.
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"No change to forecasts. MMP units have had a great run (delivering roughly 35% to tal return YTD vs. 14% for the AMZX) and now offer a total return potential of ~ 14 % compared to our coverage average of ~ 26%," said analysts at Credit Suisse.
Separately, TheStreet Ratings team rates MAGELLAN MIDSTREAM PRTNRS LP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MAGELLAN MIDSTREAM PRTNRS LP (MMP) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."