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Analysts at Oppenheimer began coverage on shares of Plains GP Holdings LP (NASDAQ:PAGP) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $30.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 26.64% from the stock’s previous close.

The analysts wrote, “We initiate coverage of PAGP with an Outperform rating and $30 price target. There is much to like about an investment in PAGP, including exposure to rapidly developing US crude oil infrastructure focused on major shales and leverage to PAA’s attractive distribution growth (10% growth at PAA equals 26% at PAGP in 2014E). Foundational cash flow is fee-based, but PAA maintains optionality to evolving oil price dynamics. In addition, the (admittedly low) current yield is expected to be shielded from taxes for a minimum of three years.”

PAGP has been the subject of a number of other recent research reports. Analysts at Stephens initiated coverage on shares of Plains GP Holdings LP in a research note to investors on Monday, November 25th. They set an “overweight” rating and a $27.00 price target on the stock. Separately, analysts at Bank of America Corp. initiated coverage on shares of Plains GP Holdings LP in a research note to investors on Monday, November 25th. They set a “neutral” rating and a $24.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of Plains GP Holdings LP in a research note to investors on Monday, November 25th. They set an “overweight” rating and a $27.00 price target on the stock. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Plains GP Holdings LP has a consensus rating of “Buy” and a consensus price target of $26.55.

Shares of Plains GP Holdings LP (NASDAQ:PAGP) opened at 23.69 on Thursday. Plains GP Holdings LP has a one year low of $21.50 and a one year high of $23.96. The stock’s 50-day moving average is $22.68 and its 200-day moving average is $22.68. The company’s market cap is $3.032 billion.

The Fly On The Wall

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