** Jefferies initiates coverage of pipeline operator Enterprise Products EPD.N with "hold"; sets PT at $33
** PT represents ~3% upside to stock's last close
** Brokerage says EPD remains a high-quality midstream operator with strong defensive attributes, though its competitive advantage over peers has narrowed in recent years
** "Outside positive reception to a possible unit repurchase inflection, difficult for us to see a path to unit outperformance in the current backdrop" - Jefferies
** Adds EPD has less torque to natural gas demand growth, which could make it difficult to get constructive amid a softer liquids backdrop
** 13 out of 20 brokerages rate the stock "buy" or higher, 6 "hold" and 1 "sell"; median PT is $36 - data compiled by LSEG
** In 2025, EPD fell 2.4%
(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))
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