DT Midstream initiated with a Buy at Stifel

Stifel initiated coverage of DT Midstream with a Buy rating and $60 price target, calling the stock “a lower risk way to play the growth in natural gas volumes as LNG continues to grow.” DT, which is focused in the Northeast and the Haynesville, should become free cash flow positive in 2024 and will grow into 2025, providing increased opportunities to lower leverage or return additional capital to shareholders, the analyst tells investors.