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Fly News Breaks for March 23, 2018
MPLX
Mar 23, 2018 | 08:10 EDT
Morgan Stanley analyst Tom Abrams upgraded MPLX to Overweight from Equal Weight and updated his price target on shares to $40 from $41 following the Federal Energy Regulatory Commission policy revision, in which FERC no longer will allow master limited partnership interstate natural gas and oil pipelines to recover an income tax allowance in cost-of-service rate filings. In a research note to investors, the analyst said that a "positive" for MPLX is there there is no direct impact from the FERC NOPR, adding that it has "solid" single-unit distributable cash flow/unit growth and sees opportunity for upside to that growth.