Biden's Debt Ceiling Bill Boosts Equitrans Midstream Corp: Analyst Foresees Bright Horizon
Portfolio Pulse from Priya Nigam
President Joe Biden signed a bill extending the government's debt ceiling by two years, which is expected to ensure the completion of Equitrans Midstream Corp's (NYSE:ETRN) Mountain Valley Pipeline (MVP) project. Morgan Stanley analyst Robert Kad upgraded ETRN from Underweight to Overweight and raised the price target from $7 to $14.
June 05, 2023 | 8:37 pm
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Equitrans Midstream Corp (ETRN) is expected to benefit from the debt ceiling bill, ensuring the completion of the MVP project. Analyst Robert Kad upgraded ETRN's rating and raised the price target.
The debt ceiling bill signed by President Biden provides a clear directive for the completion of the MVP project. This positive development led Morgan Stanley analyst Robert Kad to upgrade ETRN's rating and raise the price target, indicating a bullish outlook for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100