DT Midstream price target raised to $115 from $110 at Raymond James

Raymond James raised the firm’s price target on DT Midstream (DTM) to $115 from $110 and keeps an Outperform rating on the shares. This was likely a “fine” quarter for midstream, but not “special,” the analyst tells investors in a research note. At the same time, 2024 was a “huge” year for midstream suppliers and there is some more for this to run in 2025, as today midstream has balance sheets, lower counter-party risk, attractive shareholder returns rates of change, and arguably its best ever risk-adjusted growth outlook. Monday’s selloff on worries related to DeepSeek’s low-cost and efficient AI model, but Raymond James doesn’t think the power trade is over, as there is still plenty of U.S. and global electric load growth coming, and natural gas will be in a prime spot to serve it.