Citi analyst Spiro Dounis upgraded EnLink Midstream to Buy from Neutral with an unchanged price target of $13. The stock has underperformed and is down 15% from recent highs, the analsyt tells investors in a research note. However, the firm sees a "stream of catalysts approaching" that could drive stock performance higher. A a larger carbon capture, transportation, and sequestration footprint could attract new investors and expand EnLink’s valuation multiple, contends Citi. It does not believe the stock price is capturing CCS upside.
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Published first on TheFly
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Read More on ENLC:
- EnLink Midstream CFO sells $4.5M in common stock
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