BofA raised the firm’s price target on Enterprise Products (EPD) to $37 from $35 and keeps a Buy rating on the shares. The firm notes that large cap midstream stocks were up 30%-100% in 2024, propelled largely by three themes – a Permian associated gas and natural gas liquids growth uptick; the view that data centers will grow quickly and will likely use gas due to speed to market and reliability; and LNG stock rallies after Trump won the presidential election. The firm’s favorite midstream names into 2025 are Energy Transfer LP (ET) and Enterprise Products, the analyst added in a 2025 year ahead focused on the midstream segment.
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Read More on EPD:
- Enterprise Products initiated with a Sector Perform at Scotiabank
- Enterprise Products downgraded to Peer Perform from Outperform at Wolfe Research
- Enterprise Products price target raised to $35 from $31 at Barclays
- Enterprise Products price target raised to $40 from $37 at Truist
- Enterprise Products downgraded to Equal Weight from Overweight at Wells Fargo