Citi raised the firm’s price target on EnLink Midstream to $16 from $13 and keeps a Buy rating on the shares. The firm is upgrading its Oklahoma basin expectations for the company, calling for modest growth in 2025-26 and reflect what could be a stronger natural gas market, the analyst tells investors in a research note. Citi also expects EnLink to take a lighter capex approach to CCS, or carbon capture and sequestration, with the management currently re-evaluating the Pecan Island project and potentially shifting its focus to more economic projects available.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ENLC:
- EnLink Midstream Declares Quarterly Distribution and Schedules Call to Discuss First Quarter 2024 Earnings
- EnLink Midstream initiated with an Overweight at Capital One
- EnLink Midstream Unveils New Investor Relations Presentation
- EnLink Midstream sees FY24 Adjusted EBITDA 1.310B-1.410B
- EnLink Midstream reports Q4 EPS 14c, consensus 15c
