Wells upgrades Hess Midstream LP on total return potential

Wells Fargo analyst Praneeth Satish upgraded Hess Midstream LP (HESM) to Overweight from Equal Weight with a price target of $47, up from $41. The firm sees the company’s dividends, share buybacks and growth driving 17% annual total return. Hess Midstream could generate as much as 30% total return now with the merger now closes as a simplification deal could add 13% upside, the analyst tells investors in a research note.