Mizuho analyst Robert Mosca upgraded DT Midstream to Buy from Neutral with a price target of $59, down from $60. The analyst believes DT has been "unfairly punished" post its Q4 update given its worse than expected capex guide. The "strong" 7% EBITDA growth outlook through 2024 outlook illustrates the visible nature of DT’s growth, the analyst tells investors in a research note. The firm believes the company’s earnings profile has been "sufficiently decoupled" from the gas price backdrop, and it sees the current share price as an attractive entry point.
Published first on TheFly
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