MPLX price target raised to $42 from $40 at Stifel

Stifel analyst Selman Akyol raised the firm’s price target on MPLX to $42 from $40 and keeps a Buy rating on the shares. Stifel continues to favor MPLX given its free cash flow generation, low leverage and return of capital to unitholder strategy, expects buybacks to play a smaller role in 2H23, and thinks MPLX will increase its distribution in 3Q23, the analyst tells investors in a research note.