DT Midstream price target raised to $150 from $133 at Wells Fargo

Wells Fargo raised the firm’s price target on DT Midstream (DTM) to $150 from $133 and keeps an Overweight rating on the shares. The company’s backlog update of $3.4B met Street expectation and management said the shadow backlog was “multiples of this,” the analyst tells investors in a research note. Wells says DT has the” most upside torque to new projects given its smaller size.”