Barclays Downgrades MPLX LP (MPLX) to Equalweight

Barclays downgraded MPLX LP (NYSE: MPLX) from Overweight to Equalweight with a price target of $39.00.

Analyst Christine Cho comments "With the robust production outlook for the US and a more stable crude price backdrop, we are inclined to favor names that are closer to the wellhead, driven by crude economics rather than gas and participate in the integrated value chain in attractive basins. The more stable names (i.e. long-haul pipelines) generally outperformed last year and we don’t expect the outperformance to continue under our outlook for the 2018 backdrop."

For an analyst ratings summary and ratings history on MPLX LP click here. For more ratings news on MPLX LP click here.

Shares of MPLX LP closed at $38.28 yesterday.

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