In a report published Wednesday, Jefferies analyst Christopher Sighinolfi reiterated a Hold rating on Plains GP Holdings LP PAGP, and raised the price target from $30.00 to $34.00.
In the report, Jefferies noted, “After reviewing PAA and PAGP 2Q releases, presentations, calls, and 10-Q filings, we have updated our models to incorporate recent performance & revised assumptions. Given slightly higher dividend forecasts and a roll-forward of our DDM & target yield valuation approaches, we have also lifted our PAGP price target to $34, from $30.”
Plains GP Holdings LP closed on Tuesday at $31.38.
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