MPLX reinstated at Overweight, ANDX at Equal Weight by Barclays [Seeking Alpha]
ANDEAVOR LOGISTICS (ANDX)
Last andeavor logistics earnings: 5/8 07:01 am
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US:NYSE Investor Relations:
ir.andeavorlogistics.com
Company Research
Source: Seeking Alpha
MPLX ( MPLX ) is resumed with an Overweight rating and $40 price target at Barclays, which says the company is in the midst of a broader transformation from a Northeast-concentrated G&P company to a sizable crude and liquids logistics player with a nationwide footprint. As MPLX continues to build out its Permian and Gulf Coast assets in the coming years, the firm sees exposure to these assets as driving incremental returns on the back of significant G&P cash flows. Meanwhile, Barclays resumes coverage of Andeavor Logistics ( ANDX ) at Equal Weight with a $36 price target, seeing limited near-term upside given the anticipated combination with MPLX. The firm also notes Marathon Petroleum's comments around ANDX's need to improve coverage and leverage to maintain independent sustainability. See all stocks on the move » Now read: The Hits Keep Coming: 13 Straight Quarters Of Record Earnings, 23 Hikes, Estimates Rising » Subscribe for full text news in
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