Deutsche Bank Starts MPLX LP (MPLX) at Buy

Deutsche Bank initiated coverage on MPLX LP (NYSE: MPLX) with a Buy rating and a price target of $95.

Analyst Kristina Kazarian said, "MPLX is one of the simplest stories to understand in the MLP space. Interests between MPC and MPLX are aligned, the magnitude of droppable assets is one of the highest in the sector, and MPC’s desire to get the market to revalue its imbedded midstream assets is the catalyst driving an acceleration in its pace of drop downs. With multi-year visibility into 25%+ distribution growth guidance, which we view as conservative, and a stable fee-based earnings profile, we have a high conviction on our Buy rating on MPLX."

For an analyst ratings summary and ratings history on MPLX LP click here. For more ratings news on MPLX LP click here.

Shares of MPLX LP closed at $72.83 yesterday.

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