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Why Equitrans Midstream Stock Is Skyrocketing Today


Shares of Equitrans Midstream (NYSE: ETRN) are soaring in Tuesday's trading. The energy company's share price was up roughly 37.9% as of 10:30 a.m. ET, according to data from S&P Global Market Intelligence.

U.S. Democrats and Republicans have hammered out an initial deal to raise the debt ceiling, and it's arrived with provisions that stand to be a major bullish catalyst for Equitrans Midstream. As per the text of the proposed debt ceiling bill, necessary permits to complete the Mountain Valley Pipeline (MVP) would be approved -- opening the door for the company to have a substantial new revenue source. Following the news, Equitrans stock got a major price-target hike from RBC Capital.

RBC published a note early this morning upgrading its rating on Equitrans Midstream stock from sector perform to outperform and raising its one-year price target on the stock from $7 per share to $10 per share. Following the pending debt ceiling bill, the investment firm expects that the market will assign a higher probability of the Mountain Valley Pipeline being online by 2024 and this will boost performance for the company.

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Source Fool.com

Royal Bank of Canada Aktie

101,20 €
-0,71 %
Leichte Verluste bei Royal Bank of Canada heute, der Kurs fällt um -0,71 %.
Leichtes Buy-Interesse bei Royal Bank of Canada, mit mehr Buy- als Sell-Einschätzungen.
Ein Kursziel von 114 € für Royal Bank of Canada signalisiert ein leicht positives Potenzial gegenüber dem aktuellen Kurs von 101.2 €.
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