Abdul Rahman
1 min read
In This Article:
Antero Midstream Corporation (NYSE:AM) is one of Goldman Sachs’ top energy stock picks. On June 3, Morgan Stanley analyst Devin McDermott reiterated an ‘Underweight’ rating on the stock. However, the analyst raised his price target of the stock to $17 from $16.
A senior executive of the energy sector company speaking in front of a board of investors.
The price target hike underscores a positive adjustment in the valuation outlook despite the Underweight rating. The increase also underscores Morgan Stanley’s expectations and projections based on the prevailing market conditions.
The price target increase also comes on the heels of Antero Midstream Corp outperforming the overall equity market. The stock is up 22.22% year-to-date.
Antero Midstream Corporation (NYSE:AM) is a midstream energy company that owns, operates, and develops assets in the Appalachian Basin, primarily serving Antero Resources. These assets include gathering systems, compression facilities, processing, and fractionation plants.
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Disclosure: None.
