Wells Fargo downgraded Antero Midstream (AM) to Equal Weight from Overweight with an unchanged price target of $16. The firm remains bullish on the natural gas data center theme but is overall cautious on midstream in 2025, citing full valuations and expectations for range-bound commodity prices. Natural gas pipeline stocks should maintain their premium and could see potential further multiple expansion driven by higher terminal values and increased capex on high return data center growth projects, the analyst tells investors in a research note. Wells adjusted midstream ratings as part of its 2025 outlook.
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Read More on AM:
- Antero Midstream Reports Q3 2024 Results and Board Update
- Antero Midstream reports Q3 EPS 20c, consensus 23c
- Antero Midstream announces the addition of Munoz to board of directors
- Antero Midstream Corp (AM) Q3 Earnings Cheat Sheet
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
