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MPLX Gets a Boost with IDR Removal, Accelerated Drop-Down Plan

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Part 3
MPLX Gets a Boost with IDR Removal, Accelerated Drop-Down Plan PART 3 OF 3

RBC Raises and Deutsche Bank Cuts Price Targets for MPLX

Change in price targets

Following strategic updates on incentive distribution rights removal and accelerated dropdowns announced by MPLX (MPLX) yesterday, RBC Capital Markets raised its price target from $45 to $47. At the same time, Deutsche Bank cut its price target from $41 to $40.

RBC Raises and Deutsche Bank Cuts Price Targets for MPLX

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The above chart shows the recommendations for MPLX from analysts surveyed by Reuters. The median target price for MPLX is $39.5. It implies a 12% price return over a year from MPLX’s current price of $35.2.

In comparison, 60% of the analysts rated Shell Midstream Partners (SHLX) a “buy” and 63% rated Phillips 66 Partners (PSXP) a “buy.”

Read Why Is MPLX Underperforming Peers in 2016? to learn more about MPLX.

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