DT Midstream price target raised to $156 from $130 at Citi

Citi raised the firm’s price target on DT Midstream (DTM) to $156 from $130 and keeps a Buy rating on the shares. DT’s capital outlook update exceeded the firm’s expectations and management’s commentary was “even more constructive on two fronts,” says the analyst, who highlights that the company acknowledged growth will likely exceed a 7% compound annual rate through the end of the decade and disclosed that the opportunity backlog is “multiples” of the $3.4B capital outlook that is already about 50% sanctioned.