Citi upgrades DT Midstream to 'buy' after pipelines acquisition

DT Midstream

21/11/2024 13:32

** Citi upgrades pipeline operator DT Midstream  DTM.N  to
"buy" from "neutral" rating, citing its acquisition of three
natural gas pipelines from ONEOK  OKE.N  
    ** Brokerage says DTM's pipeline segment set to grow to 70%
of overall business 
    ** Citi expects DTM's growing market cap to attract
attention of international investors
    ** Brokerage raises PT to $115 from $90, a ~11.9% upside on
stock's last close
    ** Three of 11 brokerages rate the stock "buy" or higher, 6
"hold" and 2 "sell"; their median PT is $89 - LSEG data
    ** As of last close, stock up ~87.5% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))