Enterprise Products upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research analyst Keith Stanley upgraded Enterprise Products Partners to Outperform from Peer Perform with a $27 price target. The analyst is increasing exposure to "defensive names" within the sector. Enterprise Products has the best balance sheet in the space, a high 8% yield with excess free cash flow, and a "strong diversified" core business through market cycles, Stanley tells investors in a research note. He adds that the stock’s valuation is now at an average multiple.