MPLX price target raised to $58 from $55 at RBC Capital

RBC Capital analyst Elvira Scotto raised the firm’s price target on MPLX (MPLX) to $58 from $55 and keeps an Outperform rating on the shares after its recent Q4 results. The firm continues to see the company as one of the most attractive income plays among large-cap MLPs with an attractive current yield of over 7%, and it also believes that MPLX can continue to meaningfully grow its distribution supported by its elevated growth capex plans focused on enhancing its NGL value chain, the analyst tells investors in a research note.