Raymond James Downgrades Western Gas Partners (WES) to Market Perform

Raymond James analyst Justin Jenkins downgraded Western Gas Partners (NYSE: WES) from Outperform to Market Perform.

The analyst comments "Western (WES) is one of the best performers in the group this year, 4th among our ~25 name midstream coverage space (behind only unique stories in TRGP and ARIS, and takeout target NS). It has experienced strong trading performance on its own takeout potential, as well as solid 2024 guidance and a surprisingly large distribution increase. The stock has also gained >35% TTM and is up nearly ~30% since we initiated coverage in April 2023. Recent conversations with investors are fairly uniform – with most seeing the stock as fairly valued or worse, but with uncertainty around Occidental (OXY) ultimate plan for its ~49% stake in WES."

For an analyst ratings summary and ratings history on Western Gas Partners click here. For more ratings news on Western Gas Partners click here.

Shares of Western Gas Partners closed at $34.41 yesterday.

You May Also Be Interested In

• Raymond James Starts SpyGlass Pharma (SGP) at Outperform
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• Freedom Broker Upgrades Serve Robotics (SERV) to Buy