NGL Energy Partners price target raised to $6 from $5 at Wells Fargo

Wells Fargo raised the firm’s price target on NGL Energy Partners to $6 from $5 and keeps an Equal Weight rating on the shares. The firm cites the recent debt refinancing, payment of 50% of arrearages and assumed repay of Class D preferreds through 2027. Wells is also adjusting its estimates to reflect Q3 guidance. The firm remains on the sidelines due to valuation.