Wells Fargo Downgrades EnLink Midstream, LLC (ENLC) to Equal Weight

Wells Fargo analyst Praneeth Satish downgraded EnLink Midstream, LLC (NYSE: ENLC) from Overweight to Equal Weight with a price target of $15.00.

The analyst comments: "We expect a buyout offer at $14.90/sh by Q1'25, implying an annualized return of 8% from here. The take out price is reasonable, in our view (9.1x EV/EBITDA - our PT valued ENLC at 9.3x). ENLC holders benefit from a ~20% income step-up in 2025."

For an analyst ratings summary and ratings history on EnLink Midstream, LLC click here. For more ratings news on EnLink Midstream, LLC click here.

Shares of EnLink Midstream, LLC closed at $14.40 yesterday.

You May Also Be Interested In

• Wells Fargo Upgrades Red Rock Resorts (RRR) to Overweight
• Bernstein SocGen on Walmart (WMT): 'Price investment fear overdone'
• Mizuho Reiterates Neutral Rating on Comstock Resources (CRK)