MPLX price target raised to $55 from $48 at Truist

Truist analyst Neal Dingmann raised the firm’s price target on MPLX (MPLX) to $55 from $48 and keeps a Buy rating on the shares. The firm foresees a “compelling road map” for the company with the L&S Rio Bravo and Blackcomb Pipelines and the BANGL expansion set to come online through 2026, the analyst tells investors in a research note. MPLX’s dual Permian/Marcellus reach provides exposure to two of the key Basins that should continue to have among the best growth rates given continued operating efficiencies and the E&Ps stable activity plans, the firm adds.