Magellan Midstream price target raised to $60 from $59 at Barclays

Barclays analyst Theresa Chen raised the firm’s price target on Magellan Midstream to $60 from $59 and keeps an Overweight rating on the shares. The analyst says producer commentary around the near-term gas production outlook is in focus heading into the Q1 earnings season for North America midstream and refining. The firm says macro factors are largely driving equity price performance in the current market.