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Western Midstream price target raised to $35 from $33 at Mizuho
The Fly

Western Midstream price target raised to $35 from $33 at Mizuho

Mizuho analyst Gabriel Moreen raised the firm’s price target on Western Midstream Partners to $35 from $33 and keeps a Buy rating on the shares. The analyst is not expecting a "step-change" on the company’s upcoming Q4 earnings update. Expansion capex should be higher in 2023 to reflect timing and recent backlog additions, but the magnitude will be informed by 2024 volume expectations, the analyst tells investors in a research note. The firm recommends buying Western Midstream on its free cash flow yield and buyback capacity.

Published first on TheFly

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