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Mizuho raises UGI price target to $33

by December 23, 2024
written by December 23, 2024

Investing.com —  Mizuho (NYSE:MFG) reiterated its “outperform” rating on UGI Corporation (NYSE:UGI) and raised its price target to $33, citing potential value unlock through operational improvements and growth in its midstream and utilities businesses.

The brokerage noted that while UGI shares have rallied since the company’s fourth-quarter earnings call, there is further room for upside. New CEO Bob Flexon’s focus on stabilizing AmeriGas and addressing the valuation gap has been well-received, Mizuho said.

AmeriGas, which continues to trade at minimal equity value expectations, remains a key factor. Potential asset sales or operational stabilization could act as catalysts, the firm added.

Mizuho said the sum-of-the-parts valuation for UGI exceeds its current trading price, even under conservative assumptions.

This post appeared first on investing.com
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