Suburban Propane initiated with a Neutral at Mizuho

Mizuho analyst Gabriel Moreen initiated coverage of Suburban Propane Partners with a Neutral rating and $17 price target. Suburban is a strong operator within a propane distribution landscape that is "structurally sound, but wanting for growth opportunities," the analyst tells investors in a research note. The firm says that while the company’s acquisition of renewable natural gas assets should help address these concerns, investors will need to see initial results before awarding credit.