JPMorgan analyst Jeremy Tonet raised the firm’s price target on Energy Transfer LP to $18 from $17 and keeps an Overweight rating on the shares ahead of the Q3 report. The analyst expects “constructive commentary” around base business tailwinds into 2024 for the large-cap master limited partnerships, particularly with an improved commodity environment incentivizing increased upstream activity, which the firm says “complements a robust export picture.”
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