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US : Commodities - Overall - Midstream Suppliers | 4Q Earnings Preview: Adjusting Estimates and Highlighting Key Midstream Themes

    Tom Murphy
    Tom Murphy

    CFA, Sr. Res. Assoc.

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    J.R. Weston
    Justin Jenkins
    CGS-CIMB
    14 January 2021
    Published byCGS-CIMB

    Target price changes: Higher – CAPL up to$18 (from $16), MMP up to $50 (from $45), OKE up to $46 (from $35), PAA up to $12 (from $9), SUN up to $35 (from $30), and WMB up to $25 (from $24).4Q20 stock performance and set-up is constructive. The playbook has been very similar for several months, in o