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Fly News Breaks for April 18, 2019
EQM, ETRN
Apr 18, 2019 | 06:43 EDT
RBC Capital analyst TJ Schultz initiated Equitrans Midstream (ETRN) with a Sector Perform rating and a price target of $23, saying the company's only "cash generating asset" is its ownership of EQM Midstream Partners units (EQM). The analyst contends that the direction of the stock price will thus be driven by Mountain Valley Pipeline, where in-service timing has already been "highly risked" with potential for delay likely keeping Equitrans Midstream shares "discounted".
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