Enterprise Products price target raised to $42 from $40 at RBC Capital

RBC Capital analyst Elvira Scotto raised the firm’s price target on Enterprise Products (EPD) to $42 from $40 and keeps an Outperform rating on the shares. The firm is updating its model with slightly higher estimates and valuation multiple given the potential for structurally higher commodity prices, stating that the company may realize more significant impacts if higher commodity prices remain elevated for a longer duration, the analyst tells investors in a research note.