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.
Published first on TheFly
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