RBC Capital analyst Elvira Scotto lowered the firm’s price target on Crestwood Equity to $30 from $35 but keeps an Outperform rating on the shares ahead of its Q4 results on February 21st. The analyst is cutting Q4 estimates due to storms in the quarter that affected production as well as 2023 forecasts given the lower exit rate expected in 2022. Longer term, Crestwood Equity should benefit from strong commodity prices, while its strong balance sheet provides financial flexibility to return more cash to unitholders over time, the firm tells investors in a research note.
Published first on TheFly
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