Magellan Midstream upgraded to Outperform from Market Perform at Wells Fargo Wells Fargo upgraded Magellan Midstream valuation and the company's visible long-term growth. Wells raised its price target range for shares to $72-$76 from $58-$62.
Magellan Midstream upgraded at Argus As noted earlier, Argus upgraded Magellan Midstream to Buy from Hold. The firm thinks that projects not yet included in the company's official capex plan should enable it to increase its distribution more quickly than previously expected. Argus thinks the long-term nature of Magellan's deals should mitigate the impact of falling oil prices. Target $90.