Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Equitrans Midstream Corp (NYSE:ETRN) has been in focus after President Joe Biden signed a bill that extends the government’s debt ceiling by two years.
The bill provided a “clear and comprehensive directive” that is likely to ensure the completion of the Mountain Valley Pipeline (MVP) project, according to Morgan Stanley.
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The Equitrans Midstream Analyst: Robert Kad upgraded the rating for Equitrans Midstream from Underweight to Overweight, while raising the price target from $7 to $14.
The Equitrans Midstream Thesis: The MVP is likely to resume by July and be completed within four to five months, Kad said in the upgrade note.
Check out other analyst stock ratings.
“Including MVP and related impacts for the full year would raise ETRN's 2024 EBITDA, before deferred revenue, to $1.487 Bn,” the analyst wrote.
“Assuming completion of MVP later this year, a full year contribution of MVP should add ~$220mm of EBITDA in 2024,” he added.
ETRN Price Action: Shares of Equitrans Midstream were up 4.63% to $9.50 on Monday.
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Photo: Shutterstock
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.