Citi raised the firm’s price target on EnLink Midstream to $16 from $13 and keeps a Buy rating on the shares. The firm is upgrading its Oklahoma basin expectations for the company, calling for modest growth in 2025-26 and reflect what could be a stronger natural gas market, the analyst tells investors in a research note. Citi also expects EnLink to take a lighter capex approach to CCS, or carbon capture and sequestration, with the management currently re-evaluating the Pecan Island project and potentially shifting its focus to more economic projects available.
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