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Energy Transfer LP initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Energy Transfer LP (ET) with a Buy rating and $22 price target With a diversified set of operations and two publicly traded subsidiaries, the company “does not fit into a neat thematic box as some peers do,” the analyst tells investors. However, the company’s current valuation is “undemanding,” and it has visible growth along with potential upside from additional data center-related supply projects and Lake Charles LNG, the analyst added.

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