Citi analyst Spiro Dounis lowered the firm’s price target on Western Midstream to $30 from $32 and keeps a Buy rating on the shares post the Q2 report. The analyst says the target drop reflects a lower than expected EBITDA ramp into 2024.
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Read More on WES:
- Western Midstream downgraded to Equal Weight from Overweight at Wells Fargo
- Western Midstream downgraded to Neutral from Overweight at JPMorgan
- Western Midstream lowers 2023 adjusted EBITDA outlook to $1.95B-$2.05B
- Western Midstream reports Q2 EPS 64c, consensus 66c
- WES Earnings Report this Week: Is It a Buy, Ahead of Earnings?