EnLink Midstream downgraded to Market Perform from Outperform at Raymond James
The Fly

EnLink Midstream downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded EnLink Midstream (ENLC) to Market Perform from Outperform without a price target. The firm says the recent run in EnLink’s share price likely sufficiently compensates investors for the probability-weighted premium Oneok (OKE) could pay. There remains the probability that Oneok could pay up and pay more for EnLink, but there is also a reasonable argument that the $14.90 per share GIP received should be on the high end of what Oneok pays, the analyst tells investors in a research note.

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