-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下： 我们下调评级（由“买入”下调至“持有”）是基于估值考虑，尽管该股年初至今已上涨21%，目前交易价格接近我们的目标价。我们维持12个月目标价40美元，相当于企业价值与2027年预期EBITDA之比的10.9倍，略高于EPD的历史预期市盈率。该市盈率略高于EPD的历史预期市盈率，但我们认为，鉴于美国中游资产需求不断增长，这一溢价是合理的。在中东能源供应受限之际，此类资产有助于将更多原油、液化天然气和天然气输送至出口码头。我们将2026年每股收益预期上调0.06美元至2.90美元，2027年每股收益预期上调0.03美元至3.23美元。 2026年的资本支出相对较高，但预计2027年将大幅下降。单位收益率为5.7%，提升了总回报潜力。我们预计，2026年EPD的增长性资本支出和股息支出将消耗其89%的经营现金流，与同行基本持平，这意味着其容错空间有限。
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