Enterprise Products price target raised to $40 from $36 at Truist

Truist raised the firm’s price target on Enterprise Products (EPD) to $40 from $36 and keeps a Hold rating on the shares as part of a broader research note on mid-stream energy names following Q1 results. The quarter was characterized by spread optimization driving upside financials and guidance raises, though upside on a go-forward remains less clear forward given commodity price volatility, hedges in place, and an expected narrowing of Waha/Katy/HSC spreads on the heels of 4.6Bcf/d of Permian egress expected to enter service, the analyst tells investors in a research note.