MPLX price target raised to $60 from $55 at Raymond James

Raymond James raised the firm’s price target on MPLX (MPLX) to $60 from $55 and keeps an Outperform rating on the shares. Both of MPLX’s segments present tailwinds in the current environment that don’t seem to be well reflected in valuation, even with strong recent performance, the analyst tells investors in a research note. The firm is more optimistic on MPLX’s multiyear earnings trajectory relative to consensus, especially in light of recent natural gas liquids logistics projects, as well as inflation escalators on the core business.