MPLX upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded MPLX to Overweight from Neutral with a price target of $41, up from $37. With a "diverse asset footprint and meaningful refined refinery logistics stability," MPLX continues to demonstrate strong operational performance, including asset and cost optimizations, the analyst tells investors in a research note. The firm says the company is well positioned to capitalize on margin expansion as inflation escalators lift tariffs more than realized cost increases. It says the Q4 call commentary alluding to mid single digit EBITDA growth in MPLX’s system provides an increased level of visibility and confidence in the outlook. JPMorgan also sees the stock’s current valuation as "undemanding."