Why Equitrans Midstream (ETRN) Stock Is Exploding Higher
Portfolio Pulse from Henry Khederian
Equitrans Midstream Corp (ETRN) shares surged 37.3% after RBC Capital upgraded the stock from Sector Perform to Outperform and raised its price target from $7 to $10. The upgrade follows Democratic Senator Joe Manchin's inclusion of a provision in the debt-limit deal to expedite the construction of the Mountain Valley Pipeline.
May 30, 2023 | 2:34 pm
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POSITIVE IMPACT
ETRN shares rose 37.3% after RBC Capital upgraded the stock and raised its price target, following a provision to expedite the Mountain Valley Pipeline construction.
The sharp increase in ETRN's stock price is a direct result of RBC Capital's upgrade and price target raise. The upgrade comes after Senator Joe Manchin included a provision in the debt-limit deal to expedite the construction of the Mountain Valley Pipeline, which is expected to benefit Equitrans Midstream Corp. This news is highly relevant and important for ETRN investors, as it indicates a positive outlook for the company's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100