JP Morgan Maintains Neutral Rating for EnLink Midstream: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
JP Morgan has maintained its Neutral rating for EnLink Midstream (NYSE:ENLC) but lowered its price target from $15.00 to $14.00. The current trading price of ENLC shares is $12.01, indicating a potential 16.57% increase to reach the new target. EnLink Midstream, an integrated midstream company, primarily generates revenue from its Louisiana segment, involving natural gas pipelines and processing plants.
February 29, 2024 | 5:00 pm
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JP Morgan maintains a Neutral rating on EnLink Midstream, lowering the price target from $15.00 to $14.00. The stock is currently trading at $12.01, suggesting a potential upside.
The adjustment of the price target by JP Morgan, a major financial institution, can influence investor perception and potentially drive the stock price towards the new target. Given the stock is currently below the new target, this suggests a positive short-term outlook, assuming market conditions do not deteriorate. The Neutral rating indicates that JP Morgan does not see significant downside risks at the moment, supporting a stable outlook for ENLC.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100