3 Aug

Enterprise Products Partners Saw Higher Target Prices

WRITTEN BY Rekha Khandelwal, CFA

Target prices

Enterprise Products Partners (EPD) saw a string of target price increases after its strong second-quarter results. UBS raised its target price from $36 to $39. Barclays and Stifel both raised their target prices for the stock to $34. SunTrust Robinson raised its target price for Enterprise Products Partners from $33 to $34. RBC raised its target price from $34 to $37.

All of the analysts surveyed by Reuters covering Enterprise Products Partners rate the stock as a “buy.”

Enterprise Products Partners Saw Higher Target Prices

The above graph shows Enterprise Products Partners’ mean target prices and ratings over 12 months. As the graph shows, Enterprise Products Partners’ mean target price increased to $33.1 after the updates. The target price implies an upside potential of ~13% from Enterprise Products’ current price of $29.2.

In comparison, half of the surveyed analysts covering Plains All American Pipeline (PAA) rate it as a “buy.” The median target price for Plains All American Pipeline is $27. All of the analysts covering MPLX (MPLX) rate it as a “buy.” The stock has a median target price of $42. About 61% of the analysts rate Magellan Midstream Partners (MMP) as a “buy.”

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