Truist analyst Neal Dingmann raised the firm’s price target on Delek Logistics (DKL) to $50 from $46 and keeps a Buy rating on the shares. The company has recently completed several strategic deals on top of solid organic activity during the quarter, and the firm is “especially positive” on Delek’s prospects to drive its higher margin third party business, the analyst tells investors in a research note. Delek units could get a material boost from if/when the Alerian MLP ETF is rebalanced, as a number of members have already dropped out and various others have a substantial weighting, the firm adds.
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Read More on DKL:
- Delek Logistics Partners Reports Record Q3 2024 Results
- Delek Logistics reports Q3 EPS 71c, consensus 84c
- Is DKL a Buy, Before Earnings?
- Delek Logistics Announces Third Quarter Cash Distribution
- Delek Logistics raises quarterly dividend to $1.10 per share from 1.09
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
