DT Midstream price target raised to $118 from $110 at BofA

BofA analyst Jean Ann Salisbury raised the firm’s price target on DT Midstream (DTM) to $118 from $110 and keeps a Buy rating on the shares. Despite recent market volatility, the outlook for gas pipelines “continues to brighten,” says the analyst, whose top picks in midstream are Kinder Morgan (KMI) and DT. This year, the firm is seeing more broad-based activity across gas midstream, which it sees being driven by the Trump administration making it easier to build, notably in Appalachia; Utilities likely now expect to need gas infrastructure well into the 2030s and are showing more willingness to pay up; and the lifting of the LNG permit pause and interest from countries looking to reduce their trade deficits.