Jefferies is out with its report today on Southern Union SUG, raising its PT from $33 to $39.
In a note to clients, Jefferies writes, "We value the stock at $39 consistent with Williams all-cash offer for Southern Union. Jefferies believes the $39 offer values the company at a 9.5x EV/EBITDA multiple. Every 0.5x change in the multiple equates to a $4.00 change in the
valuation."
Jefferies maintains Hold on SUG.
At the time of posting, shares of SUG were trading pre-market at $39.38, up 15.31% from Thursday's close.
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