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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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
- WESTERN MIDSTREAM ANNOUNCES FOURTH-QUARTER POST-EARNINGS INTERVIEW WITH CHIEF FINANCIAL OFFICER, KRISTEN SHULTS AND PARTICIPATION IN UPCOMING INVESTOR CONFERENCES
