'MPLX LP (MPLX) Enhancing its NGL Value Chain'; PT Raised to $58 at RBC Capital

RBC Capital analyst Elvira Scotto raised the price target on MPLX LP (NYSE: MPLX) to $58.00 (from $55.00) while maintaining an Outperform rating.

The analyst commented: "Enhancing its NGL Value Chain; We update our estimates following the recent 4Q24 earnings and 10-K release. We continue to view MPLX as one of the most attractive income plays among large-cap MLPs with an attractive current yield >7%. We believe MPLX can continue to meaningfully grow its distribution, supported by its elevated growth capex plans focused on enhancing its NGL value chain. We reiterate our Outperform rating and increase our price target to $58 on higher estimates and planned growth projects beyond our forecasted period."

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