Energy Transfer LP price target raised to $20 from $17 at Jefferies

Jefferies analyst Julien Dumoulin-Smith raised the firm’s price target on Energy Transfer LP (ET) to $20 from $17 and keeps a Hold rating on the shares. The firm says the company’s updates on its natural gas projects were “rather exceptional.” However, Energy Transfer’s gas exposure still lacks the scale to “single-handedly address” the stock’s valuation discount, the analyst tells investors in a research note.