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Fly News Breaks for April 29, 2016
MPLX
Apr 29, 2016 | 08:05 EDT
As previously reported, Credit Suisse upgraded MPLX to Outperform from Neutral and raised its price target to $40 from $35. Analyst John Edwards said MPLX reported a solid beat to the quarter and sees a rising likelihood of dropdowns before the 2019 timeline outlined in guidance. Edwards said the cost of capital has fallen and believes a strong recovery in unit prices from February lows will allow the company to grow EBITDA through dropdowns.