Citi analyst Spiro Dounis upgraded DT Midstream to Neutral from Sell with an unchanged price target of $54. The analyst cites valuation for the upgrade following the stock’s recent underperformance. The negative catalysts of deteriorating natural gas fundamentals and an elevated capex budget are now behind the company, the analyst tells investors in a research note. The firm sees a more balanced risk/reward tradeoff at current share levels.
Published first on TheFly
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