Enterprise Products price target raised to $33 from $31 at Citi

Citi analyst Spiro Dounis raised the firm’s price target on Enterprise Products to $33 from $31 and keeps a Buy rating on the shares. The analyst increased estimates after updating the firm’s model to reflect the $3.1B of growth projects announced with Q3 earnings. While such a large slate of growth projects announced all at once caught some investors by surprise, these projects should be high-return and well contracted, the analyst tells investors in a research note.