Post by
hawk35 on Dec 07, 2016 8:57am
RBC Comments on Veresen Update
Veresen Inc. ( VSN) – $12.80 – Comfortable with 2017 guidance
RBC CM: Outperform (PT $15)
RBC CM positively views the guidance release as: (1) their existing 2017 distributable cash estimate is at the lower end of the range, implying asymmetric upside; (2) the entire guidance range results in at least 1x dividend coverage; (3) the funding plan contemplates no capital markets equity or debt needs; and (4) management remains confident in the sale of the Power
business (Q1/17 announcement; H1/17 close).