Raymond James downgraded Hess Midstream LP (HESM) to Market Perform from Outperform without a price target The firm adjusted ratings in the midstream supplier group heading into 2026. Midstream enters 2026 with momentum, but “constructive” share performances 2025 “means the real work now shifts to execution,” the analyst tells investors in a research note. Raymond James believes investor focus is now centered on how individual companies translate macro tailwinds into realizable cash flow.
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