Plains GP Holdings price target raised to $19 from $18 at BofA

BofA raised the firm’s price target on Plains GP Holdings (PAGP) to $19 from $18 and keeps a Neutral rating on the shares. The firm notes that large cap midstream stocks were up 30%-100% in 2024, propelled largely by three themes – a Permian associated gas and natural gas liquids growth uptick; the view that data centers will grow quickly and will likely use gas due to speed to market and reliability; and LNG stock rallies after Trump won the presidential election. The firm’s favorite midstream names into 2025 are Energy Transfer LP (ET) and Enterprise Products (EPD), the analyst added in a 2025 year ahead focused on the midstream segment.