Mizuho analyst Gabriel Moreen raised the firm’s price target on Energy Transfer LP to $19 from $18 and keeps a Buy rating on the shares. The analyst believes ET could capitalize on its improved credibility by providing a more detailed capital allocation framework. Successful messaging represents a significant company-specific catalyst that would better allow investors to capitalize its strong free cash flow position, the analyst tells investors in a research note. The firm says ET is its new midstream top pick.
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