Plains All American price target raised to $23 from $21 at Truist

Truist raised the firm’s price target on Plains All American to $23 from $21 and keeps a Buy rating on the shares. The company is financially positioned to take advantage of the continued fragmented midstream market, and there is good chance that Plains All American is able to find more accretive deals similar to the prior year, the analyst tells investors in a research note. Truist adds it is forecasting the recent transactions and solid continued Permian activity to provide notable earnings and cash flow upside Plains All American this year that can be used for further deals along with strong continued distributions.