Deutsche Bank Starts Noble Midstream Partners LP (NBLX) at Hold

Deutsche Bank initiated coverage on Noble Midstream Partners LP (NYSE: NBLX) with a Hold rating and a price target of $29.

Analyst Kristina Kazarian said, "Noble Midstream Partners (NBLX) is a new, high-growth midstream MLP sponsored by Noble Energy (NBL). Assets are in the DJ and Delaware Basins and comprise crude / gas gathering and water infrastructure. We think the combination of a strong E&P sponsor, solid basin exposure, large planned drop-down inventory, and long-dated DPU growth targets offer a compelling story. That said, the run-up since the IPO makes the stock look fully-valued vs. peers on our ests and thus we launch coverage at Hold."

For an analyst ratings summary and ratings history on Noble Midstream Partners LP click here. For more ratings news on Noble Midstream Partners LP click here.

Shares of Noble Midstream Partners LP closed at $27.71 yesterday.

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