MPLX LP (MPLX) PT Raised to $52 at RBC Capital

RBC Capital analyst Elvira Scotto raised the price target on MPLX LP (NYSE: MPLX) to $52.00 (from $50.00) while maintaining a Outperform rating.

The analyst comments "We update our estimates following the recent 3Q24 earnings beat driven by solid overall margins. We continue to view MPLX as one of the most attractive income plays among large-cap MLPs with an attractive current yield >8%, and believe they can continue to meaningfully grow the distribution given the strong balance sheet and growth opportunities. We update our estimates and reiterate our Outperform rating and increase our price target to $52 given higher estimates."

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