BUZZ-Citi upgrades DT Midstream to 'buy' after pipelines acquisition

Reuters11-21 21:32

** Citi upgrades pipeline operator DT Midstream to "buy" from "neutral" rating, citing its acquisition of three natural gas pipelines from ONEOK

** Brokerage says DTM's pipeline segment set to grow to 70% of overall business

** Citi expects DTM's growing market cap to attract attention of international investors

** Brokerage raises PT to $115 from $90, a ~11.9% upside on stock's last close

** Three of 11 brokerages rate the stock "buy" or higher, 6 "hold" and 2 "sell"; their median PT is $89 - LSEG data

** As of last close, stock up ~87.5% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))

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