Wolfe Research analyst Keith Stanley upgraded Western Midstream to Peer Perform from Underperform without a price target. The company’s recent 52% distribution hike has successfully forced the market to consider yield-based valuations, the analyst tells investors in a research note. The firm says it is “hard to argue a stock” with a 10% yield, improving outlook, and good balance sheet should underperform.
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Read More on WES:
- Western Midstream downgraded to Market Perform from Outperform at Raymond James
- Western Midstream price target raised to $34 from $27 at RBC Capital
- Western Midstream downgraded to Neutral from Buy at Citi
- Western Midstream price target raised to $34 from $31 at Wells Fargo
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