DT Midstream gets 'buy' rating as BofA starts coverage

DT Midstream

24/03/2025 13:48

** Pipeline operator DT Midstream's DTM.N shares rise 3.3% to $100.23

** Brokerage BofA Securities starts coverage of company's shares with "buy" rating and PT of $110

** PT represents a premium of 13.4% to stock's last close

** "DTM has attractive assets and an aggressive pipeline plan, with $2.3 billion in potential capital projects in the works. In our view, this backlog should increase EBITDA to $1.5 billion by 2029," BofA says

** Of 15 brokerages that cover the stock, 7 rate it "buy" or higher, 6 "hold" and 2 "sell" or lower; median PT $105 - LSEG

** YTD, stock up marginally

 (Reporting by Vallari Srivastava in Bengaluru)

 ((Srivastava.Vallari@thomsonreuters.com))