Energy Transfer's M&A Strategy In Focus Amid Sprawling Footprint, Balance Sheet Strength: Analyst's View
Portfolio Pulse from Nabaparna Bhattacharya
Mizuho analyst Gabriel Moreen has reiterated a Buy rating on Energy Transfer LP (ET), raising the price target to $18 from $17. ET plans to release its Q2 2023 earnings on August 2, 2023. The analyst expects 'bolt-on M&A' to remain a cornerstone of ET's growth strategy, given its sprawling footprint and improved balance sheet. In May, ET announced a $1.45 billion acquisition of Lotus Midstream. Moreen raised the FY23 adj EBITDA estimate, but by a lesser amount than 1Q23 outperformance, to account for expected headwinds.
July 18, 2023 | 6:06 pm
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Energy Transfer LP's price target has been raised by Mizuho analyst Gabriel Moreen, who expects 'bolt-on M&A' to remain a cornerstone of ET's growth strategy. The company's FY23 adj EBITDA estimate has also been raised.
The news is directly about Energy Transfer LP (ET). The analyst's positive outlook and raised price target suggest a potential increase in the company's stock price. The company's M&A strategy and improved balance sheet also indicate potential for growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100