Energy Transfer LP price target raised to $23 from $20 at RBC Capital

RBC Capital raised the firm’s price target on Energy Transfer LP (ET) to $23 from $20 and keeps an Outperform rating on the shares. The company stands well positioned to benefit from growing natural gas demand as well as growing natural gas liquids production given its integrated asset footprint, the analyst tells investors in a research note. RBC views Energy Transfer as a compelling investment opportunity given its expansive asset footprint, free cash flow generation, and distribution yield, the firm adds.