Coinbase shares rose 8% after Goldman Sachs upgraded the stock to “buy,” citing improving crypto market conditions and stronger trading volumes that could bolster the exchange’s revenue and long-term growth prospects.
Enterprise Products Partners (EPD) is emerging from its recently concluded capital expansion projects with strong momentum and ample cash flow. The energy giant is geared to deploy this cash flow into accretive growth opportunities and increase returns to unitholders via higher distributions and buybacks.
BofA Securities analyst Doug Leggate believes EPD is in the early stages of a multi-year growth cycle with enhanced risk-adjusted returns for unitholders. Leggate upgraded the stock to Buy and increased his price objective to $37 per unit, implying an upside potential of over 20% from current levels.
At its current unit price, EPD offers investors a very attractive distribution yield of 7.3%. Moreover, the partnership has consistently increased its distributions and repurchased its units, further enhancing shareholder returns. Given its strong fundamentals and promising growth prospects, EPD appears to be a compelling investment opportunity for income-oriented investors.