How ET’s Acquisition Could Bolster CEQP’s Market Access And Financial Health: Analyst On The $7.1B Deal

Truist Securities analyst Neal Dingmann downgraded Crestwood Equity Partners LP (NYSE:CEQP) to Hold from Buy with a lowered price target of $28 from $31.

The analyst favors CEQP’s acquisition by Energy Transfer LP (NYSE:ET) as the much larger proforma company is expected to benefit from improved growth prospects on an increased scale and diversification. However, the analyst believes there was a scope for growth for CEQP as a standalone firm.