Wells Fargo upgraded Enterprise Products (EPD) to Overweight from Equal Weight with a price target of $42, up from $40. The firm says the Iran war will create a “structural shift” in global energy markets, including midstream. The war will boost demand for U.S. energy, the analyst tells investors in a research note. Wells expects Permain gas and natural gas liquids supply to accelerate in order to meet this growing demand. As a result, it upgraded three names in midstream energy.
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Read More on EPD:
- Balanced Risk/Reward and Full Valuation Drive Truist Hold Rating on Enterprise Products Partners
- Enterprise Products initiated with a Hold at Truist
- Enterprise Products price target raised to $38 from $34 at Morgan Stanley
- Enterprise Products price target raised to $39 from $37 at Scotiabank
- Enterprise Products price target raised to $39 from $35 at JPMorgan